Swiss National Bank Acquires 2,200 Shares of Globus Medical, Inc. (NYSE:GMED)

Swiss National Bank grew its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 222,177 shares of the medical device company’s stock after buying an additional 2,200 shares during the period. Swiss National Bank owned 0.16% of Globus Medical worth $18,376,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GMED. Coldstream Capital Management Inc. raised its position in shares of Globus Medical by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock worth $447,000 after purchasing an additional 131 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Globus Medical by 24.7% in the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after purchasing an additional 132 shares during the last quarter. US Bancorp DE raised its position in shares of Globus Medical by 3.2% in the 4th quarter. US Bancorp DE now owns 4,305 shares of the medical device company’s stock worth $356,000 after purchasing an additional 135 shares during the last quarter. Berry Wealth Group LP raised its position in shares of Globus Medical by 5.1% in the 4th quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock worth $282,000 after purchasing an additional 164 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Globus Medical by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company’s stock worth $288,000 after purchasing an additional 175 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GMED shares. Canaccord Genuity Group lifted their price target on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Barclays boosted their target price on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Stifel Nicolaus boosted their target price on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Wells Fargo & Company decreased their target price on Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Globus Medical has an average rating of “Moderate Buy” and an average target price of $97.09.

Globus Medical Stock Down 0.7 %

NYSE GMED opened at $71.63 on Wednesday. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93. The firm has a market capitalization of $9.85 billion, a P/E ratio of 95.50, a PEG ratio of 1.61 and a beta of 1.19. The company has a 50-day moving average price of $84.39 and a 200-day moving average price of $79.79.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The firm had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. As a group, equities research analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.

Insider Activity

In related news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.