Swedbank AB Boosts Stake in Globus Medical, Inc. (NYSE:GMED)

Swedbank AB boosted its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 18.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 475,489 shares of the medical device company’s stock after acquiring an additional 75,489 shares during the period. Swedbank AB owned 0.35% of Globus Medical worth $39,328,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GMED. Pacer Advisors Inc. increased its stake in shares of Globus Medical by 1.5% in the 4th quarter. Pacer Advisors Inc. now owns 24,792 shares of the medical device company’s stock worth $2,051,000 after acquiring an additional 370 shares during the last quarter. KBC Group NV grew its holdings in shares of Globus Medical by 1.5% in the fourth quarter. KBC Group NV now owns 46,183 shares of the medical device company’s stock valued at $3,820,000 after purchasing an additional 678 shares during the period. Encompass More Asset Management acquired a new stake in Globus Medical during the fourth quarter worth about $545,000. Fort Washington Investment Advisors Inc. OH raised its stake in Globus Medical by 0.3% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 415,241 shares of the medical device company’s stock worth $34,345,000 after purchasing an additional 1,130 shares during the period. Finally, Atomi Financial Group Inc. boosted its holdings in Globus Medical by 41.9% in the 4th quarter. Atomi Financial Group Inc. now owns 5,120 shares of the medical device company’s stock valued at $423,000 after purchasing an additional 1,512 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Up 0.4 %

Shares of GMED opened at $93.17 on Friday. The company has a market cap of $12.69 billion, a P/E ratio of 139.06, a PEG ratio of 1.78 and a beta of 1.19. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The firm’s 50 day moving average price is $85.69 and its 200 day moving average price is $77.25.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The business had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. During the same quarter in the prior year, the company earned $0.57 earnings per share. The company’s revenue was up 63.1% on a year-over-year basis. Research analysts forecast that Globus Medical, Inc. will post 2.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on GMED shares. Truist Financial lifted their price target on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Wells Fargo & Company upped their price target on Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Canaccord Genuity Group upped their target price on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, Roth Mkm lifted their price target 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. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.91.

Insider Buying and Selling

In other Globus Medical news, CEO Daniel T. Scavilla sold 60,000 shares of Globus Medical stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total transaction of $4,801,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,667 shares of company stock worth $6,674,554. Company insiders own 18.54% of the company’s stock.

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.