Zurcher Kantonalbank Zurich Cantonalbank Buys 3,828 Shares of Globus Medical, Inc. (NYSE:GMED)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Globus Medical, Inc. (NYSE:GMED) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,095 shares of the medical device company’s stock after purchasing an additional 3,828 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Globus Medical were worth $2,572,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GMED. Crossmark Global Holdings Inc. grew its position in Globus Medical by 6.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 7,750 shares of the medical device company’s stock worth $554,000 after purchasing an additional 436 shares during the period. KBC Group NV grew its position in shares of Globus Medical by 0.5% during the 3rd quarter. KBC Group NV now owns 45,505 shares of the medical device company’s stock valued at $3,255,000 after acquiring an additional 237 shares during the period. Quest Partners LLC bought a new stake in shares of Globus Medical during the 3rd quarter valued at $523,000. Pathstone Holdings LLC grew its position in shares of Globus Medical by 2.6% during the 3rd quarter. Pathstone Holdings LLC now owns 41,007 shares of the medical device company’s stock valued at $2,934,000 after acquiring an additional 1,055 shares during the period. Finally, Segall Bryant & Hamill LLC grew its position in shares of Globus Medical by 7.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 387,737 shares of the medical device company’s stock valued at $27,739,000 after acquiring an additional 26,047 shares during the period. Institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Up 2.2 %

Shares of GMED stock opened at $71.21 on Monday. The stock has a market cap of $9.79 billion, a P/E ratio of 94.94, a PEG ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93. The company’s fifty day simple moving average is $84.86 and its two-hundred day simple moving average is $79.80.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on GMED. StockNews.com raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Thursday. Barclays boosted their price objective on shares of Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Stifel Nicolaus boosted their price objective on shares of Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company lowered their target price on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Finally, BTIG Research lifted their target price on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $97.82.

Insiders Place Their Bets

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

Globus Medical Company 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.