Louisiana State Employees Retirement System bought a new position in Globus Medical, Inc. (NYSE:GMED – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 32,400 shares of the medical device company’s stock, valued at approximately $1,727,000.
A number of other hedge funds also recently bought and sold shares of GMED. Quarry LP purchased a new stake in shares of Globus Medical during the first quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Globus Medical during the third quarter valued at approximately $28,000. Advisory Services Network LLC boosted its stake in shares of Globus Medical by 109.6% during the first quarter. Advisory Services Network LLC now owns 503 shares of the medical device company’s stock valued at $28,000 after purchasing an additional 263 shares during the period. Altshuler Shaham Ltd purchased a new stake in shares of Globus Medical during the fourth quarter valued at approximately $28,000. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of Globus Medical during the third quarter valued at approximately $56,000. Institutional investors own 95.16% of the company’s stock.
Insiders Place Their Bets
In other Globus Medical news, Director Leslie V. Norwalk sold 10,590 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $51.99, for a total value of $550,574.10. Following the completion of the transaction, the director now owns 17,419 shares in the company, valued at $905,613.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 24.30% of the stock is owned by corporate insiders.
Globus Medical Price Performance
Globus Medical (NYSE:GMED – Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The medical device company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The business had revenue of $616.53 million during the quarter, compared to the consensus estimate of $608.21 million. Globus Medical had a return on equity of 8.82% and a net margin of 7.83%. The firm’s quarterly revenue was up 124.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. Research analysts predict that Globus Medical, Inc. will post 2.69 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the company. Truist Financial increased their price objective on Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Stifel Nicolaus upped their target price on Globus Medical from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price on shares of Globus Medical in a report on Thursday, January 11th. Finally, BTIG Research upgraded Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, March 18th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.33.
Check Out Our Latest Stock Report on Globus Medical
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.
Featured Articles
- Five stocks we like better than Globus Medical
- The Most Important Warren Buffett Stock for Investors: His Own
- Comprehensive Analysis of PayPal Stock
- 3 Ways To Invest In Coffee, Other Than Drinking It
- Intuitive Surgical Stock Can Trend Much Higher This YearÂ
- 5 Top Rated Dividend Stocks to Consider
- Alibaba Stock Analysis: Insights, Trends, and Future Predictions
Want to see what other hedge funds are holding GMED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globus Medical, Inc. (NYSE:GMED – Free Report).
Receive News & Ratings for Globus Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical and related companies with MarketBeat.com's FREE daily email newsletter.