Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 215 Shares of Globus Medical, Inc. (NYSE:GMED)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 0.9% during the fourth quarter, HoldingsChannel reports. The fund owned 25,118 shares of the medical device company’s stock after buying an additional 215 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Globus Medical were worth $2,078,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Globus Medical in the 4th quarter valued at about $27,000. Quarry LP grew its holdings in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after buying an additional 433 shares in the last quarter. UMB Bank n.a. raised its position in Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after buying an additional 206 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in 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 valued at $48,000 after acquiring an additional 197 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in 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 acquiring an additional 132 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Globus Medical Stock Up 3.3 %

Shares of NYSE GMED opened at $76.02 on Tuesday. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93. The company has a market cap of $10.46 billion, a PE ratio of 101.36, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The business’s 50 day moving average price is $83.39 and its two-hundred day moving average price is $79.87.

Globus Medical (NYSE:GMED) last posted its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping 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 business had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. As a group, research analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on GMED shares. Roth Mkm lifted their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Barclays lifted their price target on shares of Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Canaccord Genuity Group increased their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. BTIG Research raised their price objective on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Globus Medical presently has an average rating of “Moderate Buy” and a consensus price target of $97.09.

Insider Activity

In related news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 18.54% of the company’s stock.

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.