Globus Medical, Inc. (NYSE:GMED) Stock Holdings Decreased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its position in Globus Medical, Inc. (NYSE:GMED) by 6.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,450 shares of the medical device company’s stock after selling 5,786 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Globus Medical were worth $6,571,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Globus Medical by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 10,863,834 shares of the medical device company’s stock valued at $898,548,000 after acquiring an additional 240,218 shares in the last quarter. State Street Corp grew its position in Globus Medical by 2.3% during the third quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock valued at $255,450,000 after purchasing an additional 81,371 shares in the last quarter. JPMorgan Chase & Co. grew its position in Globus Medical by 7.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,804,330 shares of the medical device company’s stock valued at $231,946,000 after purchasing an additional 199,556 shares in the last quarter. Geode Capital Management LLC lifted its position in Globus Medical by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company’s stock worth $134,893,000 after buying an additional 21,935 shares in the last quarter. Finally, Geneva Capital Management LLC boosted its stake in shares of Globus Medical by 13.6% during the 4th quarter. Geneva Capital Management LLC now owns 1,815,837 shares of the medical device company’s stock valued at $150,188,000 after buying an additional 217,707 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GMED shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research note on Tuesday, March 18th. Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Barclays raised their price target on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. StockNews.com cut Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Finally, Roth Mkm raised their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Globus Medical has a consensus rating of “Moderate Buy” and an average price target of $97.09.

Insider Buying and Selling at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the company’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 transaction of $1,250,804.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 18.54% of the company’s stock.

Globus Medical Trading Down 4.5 %

NYSE:GMED opened at $72.07 on Friday. The firm has a market capitalization of $9.91 billion, a PE ratio of 96.09, a PEG ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93. The firm’s fifty day simple moving average is $80.64 and its 200 day simple moving average is $79.96.

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

About Globus Medical

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.