Knights of Columbus Asset Advisors LLC Boosts Stake in Globus Medical, Inc. (NYSE:GMED)

Knights of Columbus Asset Advisors LLC raised its position in shares of Globus Medical, Inc. (NYSE:GMED) by 96.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 85,107 shares of the medical device company’s stock after acquiring an additional 41,887 shares during the period. Knights of Columbus Asset Advisors LLC owned approximately 0.06% of Globus Medical worth $4,535,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new stake in shares of Globus Medical in the fourth quarter worth about $28,000. Quarry LP purchased a new stake in shares of Globus Medical in the first quarter worth about $27,000. Advisory Services Network LLC boosted its position in shares of Globus Medical by 109.6% in the first quarter. Advisory Services Network LLC now owns 503 shares of the medical device company’s stock worth $28,000 after buying an additional 263 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Globus Medical in the third quarter worth about $28,000. Finally, Covestor Ltd boosted its position in shares of Globus Medical by 86.5% in the first quarter. Covestor Ltd now owns 785 shares of the medical device company’s stock worth $58,000 after buying an additional 364 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insider Activity at Globus Medical

In related news, Director Leslie V. Norwalk sold 10,590 shares of Globus Medical stock in a transaction on Friday, March 15th. The stock was sold at an average price of $51.99, for a total transaction of $550,574.10. Following the completion of the sale, the director now owns 17,419 shares of the company’s stock, valued at $905,613.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 24.30% of the company’s stock.

Globus Medical Stock Performance

Shares of GMED stock opened at $50.37 on Friday. Globus Medical, Inc. has a 12-month low of $43.38 and a 12-month high of $62.88. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of 43.05, a price-to-earnings-growth ratio of 1.49 and a beta of 1.08. The business has a 50 day simple moving average of $53.19 and a 200 day simple moving average of $51.37. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.88 and a quick ratio of 2.72.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Tuesday, February 20th. The medical device company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The firm had revenue of $616.53 million during the quarter, compared to analysts’ expectations of $608.21 million. Globus Medical had a return on equity of 8.82% and a net margin of 7.83%. The business’s revenue for the quarter was up 124.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 earnings per share. On average, equities research analysts anticipate that Globus Medical, Inc. will post 2.69 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on GMED. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price target on shares of Globus Medical in a research note on Thursday, January 11th. Truist Financial boosted their price target on Globus Medical from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. BTIG Research upgraded Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Monday, March 18th. Finally, Stifel Nicolaus upped their price objective on Globus Medical from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $66.33.

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.