Natixis Advisors L.P. Buys 47,047 Shares of Globus Medical, Inc. (NYSE:GMED)

Natixis Advisors L.P. boosted its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 45.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,114 shares of the medical device company's stock after buying an additional 47,047 shares during the quarter. Natixis Advisors L.P. owned approximately 0.11% of Globus Medical worth $7,999,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GMED. DekaBank Deutsche Girozentrale acquired a new position in Globus Medical in the 3rd quarter valued at about $28,000. Allworth Financial LP increased its stake in shares of Globus Medical by 25.7% during the fourth quarter. Allworth Financial LP now owns 1,242 shares of the medical device company's stock worth $66,000 after purchasing an additional 254 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Globus Medical by 122.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,493 shares of the medical device company's stock worth $74,000 after purchasing an additional 823 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in Globus Medical in the 3rd quarter valued at $89,000. Finally, Coldstream Capital Management Inc. acquired a new position in Globus Medical in the 3rd quarter valued at $205,000. Institutional investors own 95.16% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GMED. BTIG Research boosted their target price on shares of Globus Medical from $60.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday. Needham & Company LLC restated a "hold" rating on shares of Globus Medical in a research report on Wednesday. Stifel Nicolaus lifted their price target on shares of Globus Medical from $64.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday. Piper Sandler increased their price target on Globus Medical from $55.00 to $60.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Barclays upped their target price on Globus Medical from $83.00 to $85.00 and gave the company an "overweight" rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Globus Medical presently has an average rating of "Moderate Buy" and an average target price of $66.50.

Globus Medical Price Performance

NYSE GMED traded up $2.67 during trading on Thursday, hitting $64.40. 2,366,968 shares of the company's stock were exchanged, compared to its average volume of 1,187,162. The company has a market cap of $8.72 billion, a PE ratio of 55.04, a P/E/G ratio of 1.53 and a beta of 1.11. The company has a current ratio of 4.88, a quick ratio of 2.72 and a debt-to-equity ratio of 0.10. Globus Medical, Inc. has a fifty-two week low of $43.38 and a fifty-two week high of $65.74. The stock's 50 day moving average price is $52.71 and its two-hundred day moving average price is $51.35.

Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The medical device company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.17. Globus Medical had a net margin of 7.83% and a return on equity of 8.82%. The business had revenue of $606.67 million during the quarter, compared to analysts' expectations of $586.82 million. During the same period in the prior year, the company earned $0.53 EPS. The firm's quarterly revenue was up 119.3% compared to the same quarter last year. Research analysts expect that Globus Medical, Inc. will post 2.69 EPS for the current year.

Insider Activity

In other news, Director Leslie V. Norwalk sold 10,590 shares of the business's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $51.99, for a total transaction of $550,574.10. Following the sale, the director now directly owns 17,419 shares in the company, valued at $905,613.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 24.30% of the stock is owned by corporate insiders.

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.