Globus Medical, Inc. (NYSE:GMED) Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 3.0% during the fourth quarter, Holdings Channel reports. The fund owned 6,920 shares of the medical device company’s stock after purchasing an additional 200 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Globus Medical were worth $572,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Globus Medical during the 4th quarter worth about $27,000. Quarry LP lifted its stake in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after buying an additional 433 shares during the period. UMB Bank n.a. boosted its position in Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after acquiring an additional 206 shares during the last quarter. V Square Quantitative Management LLC grew its stake in Globus Medical by 52.0% in the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after acquiring an additional 197 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in Globus Medical by 24.7% in the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock valued at $55,000 after acquiring an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the company’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 value of $1,250,804.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 18.54% of the stock is currently owned by corporate insiders.

Globus Medical Stock Performance

NYSE GMED opened at $76.65 on Wednesday. The firm has a market capitalization of $10.54 billion, a price-to-earnings ratio of 102.20, a PEG ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The company’s 50 day moving average price is $83.16 and its 200 day moving average price is $79.92.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.10. The company 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%. Sell-side analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Ratings Changes

GMED has been the topic of several analyst reports. Roth Mkm raised their price objective on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Canaccord Genuity Group raised their price target on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. BTIG Research upped their price objective 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. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Finally, Stifel Nicolaus boosted their target price on shares of Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.09.

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.