Okabena Investment Services Inc. Invests $644,000 in Globus Medical, Inc. (NYSE:GMED)

Okabena Investment Services Inc. purchased a new stake in shares of Globus Medical, Inc. (NYSE:GMED) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,788 shares of the medical device company’s stock, valued at approximately $644,000.

Other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of Globus Medical during the 4th quarter valued at approximately $27,000. Quarry LP grew its holdings in Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after purchasing an additional 433 shares during the period. UMB Bank n.a. raised its stake 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 valued at $45,000 after buying an additional 206 shares during the period. V Square Quantitative Management LLC lifted its position in shares of Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock valued at $48,000 after buying an additional 197 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Globus Medical by 24.7% during the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after acquiring an additional 132 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Price Performance

Shares of NYSE:GMED opened at $72.49 on Friday. The company’s fifty day moving average price is $82.14 and its 200-day moving average price is $79.85. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of 96.65, a PEG ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93.

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

Insider Transactions at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 18.54% of the company’s stock.

Analyst Upgrades and Downgrades

GMED has been the subject of a number of research reports. Truist Financial cut their target price on shares of Globus Medical from $90.00 to $82.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. Barclays lifted their price objective on shares of Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. BTIG Research raised their price target on Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Canaccord Genuity Group boosted their price objective on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Stifel Nicolaus upped their target price on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.09.

About Globus Medical

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.