Venturi Wealth Management LLC Makes New $130,000 Investment in Globus Medical, Inc. (NYSE:GMED)

Venturi Wealth Management LLC purchased a new position in shares of Globus Medical, Inc. (NYSE:GMED) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,570 shares of the medical device company’s stock, valued at approximately $130,000.

A number of other institutional investors have also modified their holdings of the stock. Coldstream Capital Management Inc. increased its holdings in shares of Globus Medical by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock valued at $447,000 after purchasing an additional 131 shares during the period. Stephens Inc. AR increased its holdings in shares of Globus Medical by 3.4% in the third quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock valued at $303,000 after purchasing an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Globus Medical by 2.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock valued at $403,000 after purchasing an additional 140 shares during the period. Berry Wealth Group LP increased its holdings in shares of Globus Medical by 5.1% in the fourth quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock valued at $282,000 after purchasing an additional 164 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in shares of Globus Medical by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company’s stock valued at $288,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Performance

GMED opened at $80.43 on Friday. The business’s fifty day moving average is $86.72 and its two-hundred day moving average is $79.03. The company has a market cap of $10.95 billion, a price-to-earnings ratio of 107.24, a PEG ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93.

Globus Medical (NYSE:GMED) last posted its earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. The company had revenue of $657.29 million for the quarter, compared to the consensus estimate of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. On average, analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Insider Activity at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kelly Huller sold 2,500 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total value of $217,500.00. The disclosure for this sale can be found here. Corporate insiders own 18.54% of the company’s stock.

Analyst Upgrades and Downgrades

GMED has been the topic of a number of recent research reports. Royal Bank of Canada boosted their target price on Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. BTIG Research upped their price objective on Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Wells Fargo & Company dropped their price objective on Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday. Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. Finally, Stifel Nicolaus upped their price objective on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Friday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.91.

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.