Bank of Montreal Can Trims Stock Position in Globus Medical, Inc. (NYSE:GMED)

Bank of Montreal Can lowered its stake in Globus Medical, Inc. (NYSE:GMED - Free Report) by 90.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,017 shares of the medical device company's stock after selling 209,306 shares during the period. Bank of Montreal Can's holdings in Globus Medical were worth $1,821,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GMED. American Century Companies Inc. lifted its holdings in shares of Globus Medical by 255.9% in the 4th quarter. American Century Companies Inc. now owns 103,833 shares of the medical device company's stock worth $8,588,000 after acquiring an additional 74,659 shares during the last quarter. Oak Thistle LLC purchased a new stake in Globus Medical in the 4th quarter worth about $376,000. bLong Financial LLC bought a new stake in Globus Medical in the fourth quarter worth about $397,000. Kathmere Capital Management LLC purchased a new position in shares of Globus Medical during the fourth quarter valued at approximately $23,091,000. Finally, HB Wealth Management LLC purchased a new position in shares of Globus Medical during the fourth quarter valued at approximately $301,000. 95.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GMED has been the subject of a number of research analyst reports. Canaccord Genuity Group raised their price target on Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Stifel Nicolaus lifted their target price on Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Barclays boosted their target price 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. Bank of America raised shares of Globus Medical from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. Finally, Wells Fargo & Company lowered their price objective on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Globus Medical presently has an average rating of "Moderate Buy" and a consensus target price of $96.91.

Globus Medical Stock Up 1.1 %

GMED stock traded up $0.75 during trading on Tuesday, hitting $70.14. 823,934 shares of the company's stock traded hands, compared to its average volume of 1,039,823. The firm has a market capitalization of $9.65 billion, a P/E ratio of 93.51, a PEG ratio of 1.61 and a beta of 1.28. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93. The business has a fifty day simple moving average of $75.00 and a two-hundred day simple moving average of $80.03.

Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.74 by $0.10. The firm had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. On average, equities research analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current fiscal 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.