9,306 Shares in Globus Medical, Inc. (NYSE:GMED) Acquired by Navellier & Associates Inc.

Navellier & Associates Inc. bought a new position in Globus Medical, Inc. (NYSE:GMED) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,306 shares of the medical device company’s stock, valued at approximately $770,000.

Several other hedge funds have also modified their holdings of the stock. State Street Corp boosted its position in shares of Globus Medical by 2.3% in the third quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock worth $255,450,000 after acquiring an additional 81,371 shares during the last quarter. Geode Capital Management LLC lifted its position in Globus Medical by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company’s stock valued at $134,893,000 after buying an additional 21,935 shares in the last quarter. Geneva Capital Management LLC lifted its position in Globus Medical by 1.1% during the third quarter. Geneva Capital Management LLC now owns 1,598,130 shares of the medical device company’s stock valued at $114,330,000 after buying an additional 18,117 shares in the last quarter. Parsifal Capital Management LP lifted its position in Globus Medical by 50.5% during the third quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock valued at $96,619,000 after buying an additional 453,053 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Globus Medical by 29.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock valued at $88,610,000 after buying an additional 285,172 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kelly Huller sold 2,500 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total transaction of $217,500.00. The disclosure for this sale can be found here. 18.54% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on GMED. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $83.00 to $100.00 in a research report on Monday, December 2nd. Truist Financial boosted their target price on shares of Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. BTIG Research boosted their target price on shares of Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Stifel Nicolaus boosted their target price on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday. Finally, StockNews.com raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Globus Medical currently has an average rating of “Moderate Buy” and a consensus target price of $96.91.

Globus Medical Trading Down 4.4 %

Shares of NYSE:GMED opened at $80.43 on Friday. The company has a fifty day simple moving average of $86.72 and a 200 day simple moving average of $79.03. The firm has a market cap of $10.95 billion, a PE ratio of 107.24, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 12-month low of $49.33 and a 12-month high of $94.93.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share 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 forecast that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

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.