Globus Medical, Inc. (NYSE:GMED) Stock Position Lifted by Compass Ion Advisors LLC

Compass Ion Advisors LLC lifted its holdings in Globus Medical, Inc. (NYSE:GMED) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,369 shares of the medical device company’s stock after purchasing an additional 2,777 shares during the quarter. Compass Ion Advisors LLC’s holdings in Globus Medical were worth $3,174,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Globus Medical during the fourth quarter valued at $27,000. Quarry LP boosted its stake in Globus Medical by 698.4% during the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after purchasing an additional 433 shares during the period. UMB Bank n.a. lifted its position in shares of Globus Medical by 60.2% in the 4th 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 period. V Square Quantitative Management LLC lifted its position in shares of 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. lifted 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 acquiring an additional 132 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Activity at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 18.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on GMED shares. Wells Fargo & Company reduced their price objective 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. Roth Mkm raised their price objective on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. StockNews.com upgraded Globus Medical from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Finally, Barclays raised 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. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.09.

Globus Medical Price Performance

GMED stock opened at $71.63 on Wednesday. The business has a fifty day moving average price of $84.39 and a 200 day moving average price of $79.79. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of 95.50, a P/E/G ratio of 1.61 and a beta of 1.19.

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

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.