Swedbank AB Has $36.49 Million Holdings in Globus Medical, Inc. $GMED

Key Points

• Swedbank AB increased its stake in Globus Medical by 4.8%, bringing its total to approximately 498,489 shares valued at $36.5 million at the end of the last reporting period.
• Globus Medical reported $0.86 earnings per share for the last quarter, surpassing analysts' expectations and showing an 18.4% revenue increase compared to the previous year.
• Analysts have a consensus rating of "Moderate Buy" for Globus Medical, with an average price target set at $87.64.

Swedbank AB lifted its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 498,489 shares of the medical device company's stock after acquiring an additional 23,000 shares during the quarter. Swedbank AB owned about 0.37% of Globus Medical worth $36,489,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in GMED. Ameriprise Financial Inc. boosted its stake in shares of Globus Medical by 13.1% during the 4th quarter. Ameriprise Financial Inc. now owns 141,849 shares of the medical device company's stock worth $11,732,000 after acquiring an additional 16,479 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Globus Medical by 13.9% during the 4th quarter. Cetera Investment Advisers now owns 8,263 shares of the medical device company's stock worth $683,000 after acquiring an additional 1,008 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Globus Medical by 3.1% during the 4th quarter. Deutsche Bank AG now owns 38,441 shares of the medical device company's stock worth $3,179,000 after purchasing an additional 1,157 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Globus Medical by 87.5% during the 4th quarter. Nuveen Asset Management LLC now owns 636,345 shares of the medical device company's stock worth $52,632,000 after purchasing an additional 297,046 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of Globus Medical during the 4th quarter worth about $1,669,000. Institutional investors own 95.16% of the company's stock.

Globus Medical Stock Down 0.8%

Globus Medical stock traded down $0.45 during trading hours on Tuesday, hitting $57.79. The stock had a trading volume of 869,089 shares, compared to its average volume of 1,402,679. The company has a 50-day moving average of $57.84 and a two-hundred day moving average of $63.48. The company has a market cap of $7.81 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.61 and a beta of 1.16. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week high of $94.93.

Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The medical device company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. The firm had revenue of $745.34 million during the quarter, compared to analysts' expectations of $738.91 million. Globus Medical had a return on equity of 10.65% and a net margin of 13.58%.The company's revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 EPS. As a group, analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. JMP Securities reissued a "market perform" rating on shares of Globus Medical in a research report on Tuesday, May 27th. Needham & Company LLC reissued a "hold" rating on shares of Globus Medical in a research report on Monday, July 21st. Wells Fargo & Company cut their price objective on Globus Medical from $76.00 to $66.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Wall Street Zen raised Globus Medical from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, BTIG Research reissued a "neutral" rating on shares of Globus Medical in a research report on Tuesday, May 27th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $87.64.

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.