Globus Medical, Inc. (NYSE:GMED) Holdings Increased by First Horizon Advisors Inc.

First Horizon Advisors Inc. grew its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 24.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 666 shares of the medical device company’s stock after buying an additional 132 shares during the quarter. First Horizon Advisors Inc.’s holdings in Globus Medical were worth $55,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Coldstream Capital Management Inc. lifted its stake in Globus Medical by 2.2% during 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 last quarter. Stephens Inc. AR lifted its stake in Globus Medical by 3.4% during 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 last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Globus Medical by 2.5% during 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 last quarter. Berry Wealth Group LP lifted its stake in Globus Medical by 5.1% during 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 last quarter. Finally, CIBC Asset Management Inc lifted its stake in Globus Medical by 5.3% during 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 last quarter. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Stock Down 1.8 %

Shares of GMED opened at $78.55 on Friday. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93. The company’s fifty day moving average is $86.51 and its 200-day moving average is $79.25. The firm has a market cap of $10.70 billion, a price-to-earnings ratio of 104.74, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19.

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

Insider Activity at Globus Medical

In other Globus Medical news, 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 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 on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GMED shares. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Friday, February 21st. Canaccord Genuity Group upped their price target 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. BTIG Research upped their price target on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $83.00 to $100.00 in a research report on Monday, December 2nd. Finally, Wells Fargo & Company reduced their price target on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Globus Medical has a consensus rating of “Moderate Buy” and an average price target of $97.82.

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.