Knights of Columbus Asset Advisors LLC Has $4.54 Million Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Knights of Columbus Asset Advisors LLC grew its holdings in Globus Medical, Inc. (NYSE:GMED - Free Report) by 96.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,107 shares of the medical device company's stock after purchasing an additional 41,887 shares during the quarter. Knights of Columbus Asset Advisors LLC owned approximately 0.06% of Globus Medical worth $4,535,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Globus Medical by 49.7% during the third quarter. Vanguard Group Inc. now owns 11,245,502 shares of the medical device company's stock valued at $558,339,000 after buying an additional 3,732,959 shares during the period. BlackRock Inc. lifted its stake in shares of Globus Medical by 0.5% during the first quarter. BlackRock Inc. now owns 7,508,520 shares of the medical device company's stock valued at $425,283,000 after buying an additional 33,806 shares during the period. Nuance Investments LLC lifted its stake in shares of Globus Medical by 36.8% during the third quarter. Nuance Investments LLC now owns 3,620,518 shares of the medical device company's stock valued at $179,759,000 after buying an additional 974,693 shares during the period. Wellington Management Group LLP lifted its stake in shares of Globus Medical by 0.6% during the first quarter. Wellington Management Group LLP now owns 3,236,599 shares of the medical device company's stock valued at $238,796,000 after buying an additional 20,375 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Globus Medical by 80.0% during the third quarter. Bank of New York Mellon Corp now owns 2,406,682 shares of the medical device company's stock valued at $119,492,000 after buying an additional 1,069,419 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GMED. BTIG Research raised shares of Globus Medical from a "neutral" rating to a "buy" rating and set a $60.00 price objective on the stock in a research note on Monday, March 18th. Truist Financial increased their price target on shares of Globus Medical from $58.00 to $60.00 and gave the stock a "hold" rating in a research note on Wednesday, February 21st. Royal Bank of Canada reaffirmed an "outperform" rating and set a $70.00 price target on shares of Globus Medical in a research note on Thursday, January 11th. Finally, Stifel Nicolaus increased their price target on shares of Globus Medical from $61.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $66.33.

Insider Activity

In related news, Director Leslie V. Norwalk sold 10,590 shares of the firm's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $51.99, for a total transaction of $550,574.10. Following the completion of the sale, the director now directly owns 17,419 shares of the company's stock, valued at approximately $905,613.81. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 24.30% of the company's stock.

Globus Medical Trading Down 0.8 %

Shares of GMED stock traded down $0.40 during mid-day trading on Friday, reaching $50.35. The company's stock had a trading volume of 1,059,314 shares, compared to its average volume of 877,760. The company's 50 day simple moving average is $53.19 and its 200-day simple moving average is $51.37. Globus Medical, Inc. has a 12-month low of $43.38 and a 12-month high of $62.88. The company has a quick ratio of 2.72, a current ratio of 4.88 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $6.82 billion, a PE ratio of 43.03, a price-to-earnings-growth ratio of 1.49 and a beta of 1.08.

Globus Medical (NYSE:GMED - Get Free Report) last issued its earnings results on Tuesday, February 20th. The medical device company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.01. Globus Medical had a net margin of 7.83% and a return on equity of 8.82%. The business had revenue of $616.53 million for the quarter, compared to the consensus estimate of $608.21 million. During the same quarter last year, the firm posted $0.59 EPS. The business's revenue for the quarter was up 124.6% compared to the same quarter last year. On average, research analysts predict that Globus Medical, Inc. will post 2.69 EPS for the current fiscal 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.