Compass Ion Advisors LLC Has $3.17 Million Stock Position in Globus Medical, Inc. (NYSE:GMED)

Compass Ion Advisors LLC grew its position in Globus Medical, Inc. (NYSE:GMED) by 7.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 38,369 shares of the medical device company’s stock after purchasing an additional 2,777 shares during the period. Compass Ion Advisors LLC’s holdings in Globus Medical were worth $3,174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Globus Medical in the 4th quarter valued at $27,000. Quarry LP boosted its position in shares of Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after purchasing an additional 433 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after purchasing an additional 206 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in Globus Medical by 52.0% in the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock valued at $48,000 after purchasing an additional 197 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in Globus Medical by 24.7% in the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock valued at $55,000 after purchasing an additional 132 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction dated 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. 18.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GMED shares. Barclays upped their price objective on Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Roth Mkm upped their price objective on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Truist Financial dropped their price objective on Globus Medical from $90.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Stifel Nicolaus upped their price objective on Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a report on Friday, February 21st. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Globus Medical has an average rating of “Moderate Buy” and an average price target of $97.09.

Globus Medical Price Performance

GMED stock opened at $71.63 on Wednesday. The stock has a market capitalization of $9.85 billion, a P/E ratio of 95.50, a P/E/G ratio of 1.61 and a beta of 1.19. The business has a 50-day moving average of $84.39 and a 200-day moving average of $79.79. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 10.83% and a net margin of 4.09%. Equities analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current year.

Globus Medical 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.