Globus Medical, Inc. (NYSE:GMED) Shares Bought by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. grew its holdings in Globus Medical, Inc. (NYSE:GMED) by 14.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,462 shares of the medical device company’s stock after acquiring an additional 2,534 shares during the period. Avantax Advisory Services Inc.’s holdings in Globus Medical were worth $1,692,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new stake in shares of Globus Medical in the fourth quarter worth about $27,000. Quarry LP lifted its position in Globus Medical by 698.4% during the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after acquiring an additional 433 shares in the last quarter. UMB Bank n.a. boosted its holdings in Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after acquiring an additional 206 shares during the period. V Square Quantitative Management LLC raised its stake in shares of Globus Medical by 52.0% during the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock valued at $48,000 after purchasing an additional 197 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in shares of Globus Medical by 24.7% during the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Buying and Selling

In related news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 18.54% of the company’s stock.

Globus Medical Stock Performance

Shares of NYSE:GMED opened at $72.16 on Tuesday. The company’s fifty day moving average is $84.63 and its two-hundred day moving average is $79.80. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 96.22, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The firm had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. Sell-side analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Roth Mkm raised their price target on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Truist Financial lifted their target price on Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group increased their price target on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, January 10th. Wells Fargo & Company dropped their price objective on Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, StockNews.com upgraded Globus Medical from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.82.

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.