Globus Medical, Inc. (NYSE:GMED) Stock Holdings Lessened by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 3.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 128,684 shares of the medical device company’s stock after selling 4,910 shares during the period. Corebridge Financial Inc. owned about 0.09% of Globus Medical worth $10,643,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Globus Medical during the 4th quarter valued at $27,000. Quarry LP boosted its position in 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 purchasing an additional 433 shares during the last quarter. UMB Bank n.a. grew 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 in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after purchasing an additional 197 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its stake in shares of Globus Medical by 24.7% during the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Performance

NYSE GMED opened at $74.34 on Thursday. The stock has a 50-day simple moving average of $82.84 and a 200 day simple moving average of $79.88. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93. The stock has a market capitalization of $10.23 billion, a PE ratio of 99.12, a P/E/G ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last issued 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. 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 for the quarter, compared to the consensus estimate 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Canaccord Genuity Group increased their price objective on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. StockNews.com lowered shares of Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, March 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 report on Friday, February 21st. Finally, Stifel Nicolaus boosted their price target on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $97.09.

Insider Buying and Selling at Globus Medical

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

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.