Smartleaf Asset Management LLC Raises Stake in Globus Medical, Inc. (NYSE:GMED)

Smartleaf Asset Management LLC increased its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,010 shares of the medical device company’s stock after buying an additional 351 shares during the period. Smartleaf Asset Management LLC’s holdings in Globus Medical were worth $332,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Quarry LP grew its position in shares of 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 acquiring an additional 433 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Globus Medical by 230.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after purchasing an additional 385 shares during the period. UMB Bank n.a. lifted its stake in Globus Medical by 60.2% in the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 206 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in Globus Medical by 52.0% during the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock valued at $48,000 after purchasing an additional 197 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in Globus Medical by 24.7% during the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock valued at $55,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 18.54% of the company’s stock.

Globus Medical Price Performance

NYSE GMED opened at $78.13 on Wednesday. The company’s 50 day simple moving average is $86.28 and its two-hundred day simple moving average is $79.60. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93. The stock has a market capitalization of $10.75 billion, a PE ratio of 104.17, a P/E/G ratio of 1.61 and a beta of 1.19.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Piper Sandler upped their price target on Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lowered their price objective on Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Truist Financial lifted their target price on shares of Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $83.00 to $100.00 in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.82.

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.