Victory Capital Management Inc. Has $31.78 Million Stock Position in Globus Medical, Inc. (NYSE:GMED)

Victory Capital Management Inc. boosted its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 2.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 384,182 shares of the medical device company’s stock after buying an additional 7,485 shares during the period. Victory Capital Management Inc.’s holdings in Globus Medical were worth $31,776,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GMED. ArrowMark Colorado Holdings LLC acquired a new position in Globus Medical during the third quarter valued at $43,947,000. Lord Abbett & CO. LLC acquired a new position in Globus Medical during the third quarter valued at $37,948,000. Parsifal Capital Management LP raised its position in Globus Medical by 50.5% during the third quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock valued at $96,619,000 after buying an additional 453,053 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Globus Medical during the third quarter valued at $26,406,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Globus Medical by 29.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock valued at $88,610,000 after purchasing an additional 285,172 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $83.00 to $100.00 in a research note on Monday, December 2nd. Stifel Nicolaus boosted their target price on Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Roth Mkm boosted their target price on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. BTIG Research boosted their target price on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research note on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $97.82.

Globus Medical Stock Performance

GMED opened at $77.48 on Monday. The company has a market cap of $10.66 billion, a PE ratio of 103.31, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The stock has a 50-day moving average of $85.90 and a 200-day moving average of $79.77. Globus Medical, Inc. has a 52-week low of $49.33 and a 52-week high of $94.93.

Globus Medical (NYSE:GMED) last released its quarterly earnings results 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. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The company had revenue of $657.29 million during the quarter, compared to the consensus estimate of $646.19 million. On average, research analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.