Fort Washington Investment Advisors Inc. OH Has $34.35 Million Stake in Globus Medical, Inc. (NYSE:GMED)

Fort Washington Investment Advisors Inc. OH increased its position in Globus Medical, Inc. (NYSE:GMED) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 415,241 shares of the medical device company’s stock after buying an additional 1,130 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Globus Medical were worth $34,345,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GMED. V Square Quantitative Management LLC bought a new stake in Globus Medical in the third quarter worth approximately $27,000. Quarry LP boosted its holdings in Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after purchasing an additional 433 shares in the last quarter. Farther Finance Advisors LLC increased its position in Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after buying an additional 385 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Globus Medical by 60.2% in the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after buying an additional 206 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Globus Medical by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 888 shares of the medical device company’s stock worth $64,000 after acquiring an additional 257 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Globus Medical Trading Up 1.7 %

Shares of NYSE:GMED opened at $92.33 on Wednesday. The firm has a market capitalization of $12.57 billion, a PE ratio of 137.80, a PEG ratio of 1.73 and a beta of 1.19. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $92.42. The business’s 50 day moving average is $84.25 and its 200-day moving average is $76.16.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The firm had revenue of $625.71 million for the quarter, compared to the consensus estimate of $604.69 million. During the same quarter in the previous year, the company earned $0.57 earnings per share. The business’s revenue was up 63.1% compared to the same quarter last year. On average, sell-side analysts predict that Globus Medical, Inc. will post 2.98 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Stifel Nicolaus raised their price objective on Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Morgan Stanley raised shares of 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. Roth Mkm lifted their target price on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. StockNews.com cut shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, BTIG Research lifted their price objective on Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.91.

Insider Buying and Selling

In other news, SVP Kelly Huller sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total value of $405,050.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of the 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 disclosure for this sale can be found here. Insiders sold 81,667 shares of company stock valued at $6,674,554 over the last quarter. Corporate insiders own 18.54% of the company’s stock.

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.