Leith Wheeler Investment Counsel Ltd. Has $14.02 Million Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Leith Wheeler Investment Counsel Ltd. lowered its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 169,470 shares of the medical device company's stock after selling 6,204 shares during the quarter. Globus Medical comprises 1.0% of Leith Wheeler Investment Counsel Ltd.'s portfolio, making the stock its 22nd largest holding. Leith Wheeler Investment Counsel Ltd. owned approximately 0.12% of Globus Medical worth $14,017,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. lifted its position in 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 buying an additional 132 shares in the last quarter. US Bancorp DE lifted its position in shares of Globus Medical by 3.2% during the fourth quarter. US Bancorp DE now owns 4,305 shares of the medical device company's stock worth $356,000 after purchasing an additional 135 shares in the last quarter. Berry Wealth Group LP grew its stake in shares of Globus Medical by 5.1% during the fourth quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company's stock valued at $282,000 after purchasing an additional 164 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Globus Medical by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company's stock valued at $288,000 after purchasing an additional 175 shares in the last quarter. Finally, Mather Group LLC. increased its holdings in shares of Globus Medical by 16.3% in the fourth quarter. Mather Group LLC. now owns 1,356 shares of the medical device company's stock valued at $112,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Bank of America upgraded Globus Medical from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research report on Tuesday, March 18th. Stifel Nicolaus raised their price objective on shares of Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Barclays upped their target price on shares of Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Finally, Truist Financial reduced their price target on Globus Medical from $82.00 to $80.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.91.

Globus Medical Trading Down 0.9 %

Shares of GMED stock traded down $0.62 during trading hours on Thursday, hitting $71.15. 707,346 shares of the company were exchanged, compared to its average volume of 1,043,490. The company has a market capitalization of $9.79 billion, a PE ratio of 94.87, a PEG ratio of 1.61 and a beta of 1.28. Globus Medical, Inc. has a 52 week low of $50.00 and a 52 week high of $94.93. The business has a 50 day moving average of $73.48 and a two-hundred day moving average of $80.06.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly 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. The company had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. On average, research analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current year.

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.