Fisher Asset Management LLC Has $20.43 Million Stock Position in Globus Medical, Inc. (NYSE:GMED)

Fisher Asset Management LLC lowered its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 24.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 383,433 shares of the medical device company’s stock after selling 125,511 shares during the period. Fisher Asset Management LLC owned about 0.28% of Globus Medical worth $20,433,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. DekaBank Deutsche Girozentrale bought a new position in Globus Medical during the 3rd quarter worth $28,000. Allworth Financial LP raised its holdings in Globus Medical by 25.7% during the 4th 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 last quarter. Nisa Investment Advisors LLC lifted its position in shares of Globus Medical by 122.8% in 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 period. Wolverine Asset Management LLC bought a new stake in shares of Globus Medical in the 3rd quarter valued at $89,000. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of Globus Medical during the third quarter worth $205,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Price Performance

Shares of NYSE GMED opened at $51.95 on Monday. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of 44.40, a PEG ratio of 1.53 and a beta of 1.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.72 and a current ratio of 4.88. Globus Medical, Inc. has a fifty-two week low of $43.38 and a fifty-two week high of $62.88. The firm’s 50-day simple moving average is $52.57 and its 200 day simple moving average is $51.20.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Tuesday, February 20th. The medical device company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.01. The business had revenue of $616.53 million during the quarter, compared to the consensus estimate of $608.21 million. Globus Medical had a return on equity of 8.82% and a net margin of 7.83%. Globus Medical’s revenue was up 124.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share. As a group, research analysts anticipate that Globus Medical, Inc. will post 2.69 earnings per share for the current fiscal year.

Insider Activity at Globus Medical

In other Globus Medical news, Director Leslie V. Norwalk sold 10,590 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $51.99, for a total value of $550,574.10. Following the completion of the sale, the director now owns 17,419 shares in the company, valued at approximately $905,613.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. 24.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Truist Financial upped their price target on shares of Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. BTIG Research raised Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, March 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Globus Medical in a research report on Thursday, January 11th. Finally, Stifel Nicolaus boosted their target price on shares of Globus Medical from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.33.

Globus Medical Company 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.