9,306 Shares in Globus Medical, Inc. (NYSE:GMED) Purchased by Navellier & Associates Inc.

Navellier & Associates Inc. acquired a new position in Globus Medical, Inc. (NYSE:GMED) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,306 shares of the medical device company’s stock, valued at approximately $770,000.

Other institutional investors have also bought and sold shares of the company. Oak Thistle LLC acquired a new stake in Globus Medical in the fourth quarter worth about $376,000. bLong Financial LLC acquired a new stake in Globus Medical in the fourth quarter worth about $397,000. Kathmere Capital Management LLC acquired a new stake in Globus Medical in the fourth quarter worth about $23,091,000. Quest Partners LLC acquired a new stake in Globus Medical in the third quarter worth about $523,000. Finally, Intech Investment Management LLC lifted its holdings in Globus Medical by 291.3% in the third quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock worth $1,469,000 after purchasing an additional 15,283 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Activity

In other 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 value of $1,250,804.43. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Kelly Huller sold 2,500 shares of the company’s stock in a transaction dated 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. 18.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GMED shares. StockNews.com raised shares of Globus Medical from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Stifel Nicolaus upped their price target on shares of Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a report on Friday. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and upped their price target for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Wells Fargo & Company cut their price target on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a report on Friday. Finally, Truist Financial upped their price target on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.91.

Globus Medical Trading Down 4.4 %

NYSE GMED opened at $80.43 on Friday. The stock’s 50-day moving average price is $86.72 and its two-hundred day moving average price is $79.03. The company has a market cap of $10.95 billion, a PE ratio of 107.24, 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.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.10. The firm 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%. Research analysts forecast 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.