Xponance Inc. Buys 767 Shares of Globus Medical, Inc. (NYSE:GMED)

Xponance Inc. increased its position in Globus Medical, Inc. (NYSE:GMED) by 6.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,892 shares of the medical device company’s stock after acquiring an additional 767 shares during the quarter. Xponance Inc.’s holdings in Globus Medical were worth $1,066,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GMED. Quest Partners LLC purchased a new position in Globus Medical in the third quarter worth about $523,000. Pathstone Holdings LLC raised its holdings in Globus Medical by 2.6% in the 3rd quarter. Pathstone Holdings LLC now owns 41,007 shares of the medical device company’s stock worth $2,934,000 after acquiring an additional 1,055 shares during the last quarter. Intech Investment Management LLC lifted its position in Globus Medical by 291.3% in the 3rd quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock valued at $1,469,000 after acquiring an additional 15,283 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Globus Medical during the 3rd quarter valued at $26,406,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Globus Medical by 29.9% during the 3rd 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 during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GMED has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a report on Tuesday, March 18th. Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $83.00 to $100.00 in a research note on Monday, December 2nd. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. Truist Financial lowered their price objective on shares of Globus Medical from $90.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Finally, StockNews.com downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.09.

Insider Activity 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 shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 18.54% of the stock is currently owned by corporate insiders.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $73.67 on Monday. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93. The company’s fifty day simple moving average is $83.61 and its 200-day simple moving average is $79.83. The stock has a market capitalization of $10.13 billion, a PE ratio of 98.22, a P/E/G ratio of 1.61 and a beta of 1.19.

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

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.