KBC Group NV Purchases 678 Shares of Globus Medical, Inc. (NYSE:GMED)

KBC Group NV grew its position in shares of Globus Medical, Inc. (NYSE:GMED) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,183 shares of the medical device company’s stock after acquiring an additional 678 shares during the period. KBC Group NV’s holdings in Globus Medical were worth $3,820,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. ArrowMark Colorado Holdings LLC purchased a new position in Globus Medical during the 3rd quarter valued at $43,947,000. Lord Abbett & CO. LLC bought a new position in Globus Medical in the third quarter worth about $37,948,000. Parsifal Capital Management LP lifted its holdings in Globus Medical by 50.5% in the third quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock worth $96,619,000 after buying an additional 453,053 shares during the period. Artemis Investment Management LLP purchased a new position in shares of Globus Medical during the 3rd quarter worth approximately $30,656,000. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Globus Medical in the 3rd quarter worth approximately $26,406,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Kelly Huller sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The disclosure for this sale can be found here. Insiders sold 81,667 shares of company stock valued at $6,674,554 over the last three months. Insiders own 18.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Roth Mkm upped their price target on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Wells Fargo & Company upped their target price on shares of Globus Medical from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Thursday, January 9th. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and raised their target price for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Finally, Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and an average price target of $96.91.

Globus Medical Trading Down 0.5 %

Globus Medical stock opened at $92.70 on Friday. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93. The stock has a fifty day simple moving average of $85.85 and a two-hundred day simple moving average of $77.36. The firm has a market cap of $12.62 billion, a price-to-earnings ratio of 138.36, a PEG ratio of 1.78 and a beta of 1.19.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.65 by $0.18. The company had revenue of $625.71 million during the quarter, compared to the consensus estimate of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. Globus Medical’s revenue for the quarter was up 63.1% on a year-over-year basis. During the same period last year, the company earned $0.57 EPS. On average, equities research analysts forecast that Globus Medical, Inc. will post 2.98 EPS for the current fiscal year.

About Globus Medical

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.