Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,828 Shares of Globus Medical, Inc. (NYSE:GMED)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Globus Medical, Inc. (NYSE:GMED) by 14.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,095 shares of the medical device company’s stock after purchasing an additional 3,828 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Globus Medical were worth $2,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Coldstream Capital Management Inc. grew its stake in shares of Globus Medical by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock worth $447,000 after purchasing an additional 131 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Globus Medical by 24.7% in the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after purchasing an additional 132 shares during the last quarter. US Bancorp DE grew its stake in shares of Globus Medical by 3.2% in 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 during the last quarter. Berry Wealth Group LP grew its stake in shares of Globus Medical by 5.1% in the fourth quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock worth $282,000 after purchasing an additional 164 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake 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 worth $288,000 after purchasing an additional 175 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Globus Medical Stock Up 2.2 %

Shares of GMED opened at $71.21 on Monday. The company has a market capitalization of $9.79 billion, a P/E ratio of 94.94, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The firm has a 50 day moving average of $84.86 and a 200 day moving average of $79.80. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.10. The company had revenue of $657.29 million during the quarter, compared to the consensus estimate of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. On average, sell-side analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current year.

Insider Activity at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 18.54% of the stock is owned by insiders.

Analyst Ratings Changes

GMED has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Canaccord Genuity Group raised their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Roth Mkm raised their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Finally, StockNews.com upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Globus Medical presently has a consensus rating of “Moderate Buy” and an average price target of $97.82.

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.