Bellevue Group AG Has $30.02 Million Stake in Globus Medical, Inc. (NYSE:GMED)

Bellevue Group AG reduced its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 22.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 362,979 shares of the medical device company's stock after selling 106,819 shares during the period. Bellevue Group AG owned approximately 0.27% of Globus Medical worth $30,022,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Globus Medical during the 4th quarter worth about $27,000. UMB Bank n.a. raised its holdings in Globus Medical by 60.2% during the fourth 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 in the last quarter. V Square Quantitative Management LLC boosted its position in 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 last quarter. First Horizon Advisors Inc. grew its stake in Globus Medical by 24.7% in the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company's stock valued at $55,000 after purchasing an additional 132 shares in the last quarter. Finally, Huntington National Bank increased its holdings in Globus Medical by 47.8% during the fourth quarter. Huntington National Bank now owns 958 shares of the medical device company's stock worth $79,000 after buying an additional 310 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Globus Medical Stock Up 1.7 %

Globus Medical stock traded up $1.16 during trading hours on Wednesday, hitting $71.59. The stock had a trading volume of 1,127,488 shares, compared to its average volume of 1,042,743. The business's 50 day simple moving average is $72.98 and its 200-day simple moving average is $80.04. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 95.46, a P/E/G ratio of 1.61 and a beta of 1.32. Globus Medical, Inc. has a one year low of $58.20 and a one year high of $94.93.

Globus Medical (NYSE:GMED - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $646.19 million. Research analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GMED. 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 note on Friday, February 21st. StockNews.com downgraded shares of Globus Medical from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Barclays raised their target price on shares of Globus Medical from $100.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Canaccord Genuity Group raised their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Finally, Wells Fargo & Company lowered their target price on Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Globus Medical currently has an average rating of "Moderate Buy" and an average target price of $96.91.

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.