Motley Fool Asset Management LLC Increases Stock Position in Globus Medical, Inc. (NYSE:GMED)

Motley Fool Asset Management LLC raised its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 9.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 171,448 shares of the medical device company’s stock after purchasing an additional 15,240 shares during the period. Globus Medical makes up about 0.7% of Motley Fool Asset Management LLC’s investment portfolio, making the stock its 28th largest holding. Motley Fool Asset Management LLC owned 0.13% of Globus Medical worth $14,180,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Oak Thistle LLC purchased a new stake in Globus Medical in the fourth quarter worth approximately $376,000. bLong Financial LLC purchased a new position in shares of Globus Medical in the 4th quarter worth $397,000. Kathmere Capital Management LLC bought a new stake in shares of Globus Medical in the fourth quarter worth $23,091,000. State Street Corp increased its position in Globus Medical by 2.3% during the third quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock valued at $255,450,000 after acquiring an additional 81,371 shares during the last quarter. Finally, HB Wealth Management LLC bought a new position in Globus Medical in the fourth quarter valued at about $301,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Canaccord Genuity Group boosted their price target on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and upped their target price for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Stifel Nicolaus lifted their price target on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wells Fargo & Company reduced their price objective on Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, BTIG Research lifted their target price on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.09.

Globus Medical Trading Up 3.0 %

NYSE GMED opened at $75.62 on Thursday. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93. The stock’s 50 day moving average is $81.05 and its 200 day moving average is $80.02. The stock has a market cap of $10.40 billion, a PE ratio of 100.83, a P/E/G ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last issued its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. The firm had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. On average, analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 18.54% of the company’s stock.

Globus Medical Profile

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.