Globus Medical, Inc. (NYSE:GMED) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. boosted its stake in Globus Medical, Inc. (NYSE:GMED) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,920 shares of the medical device company’s stock after acquiring an additional 200 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Globus Medical were worth $572,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Oak Thistle LLC purchased a new stake in shares of Globus Medical in the 4th quarter valued at about $376,000. bLong Financial LLC purchased a new stake in Globus Medical in the fourth quarter valued at approximately $397,000. Kathmere Capital Management LLC purchased a new stake in Globus Medical in the fourth quarter valued at approximately $23,091,000. Intech Investment Management LLC boosted its holdings in shares of Globus Medical by 291.3% in the third quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock valued at $1,469,000 after acquiring an additional 15,283 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Globus Medical during the third quarter worth approximately $2,709,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on GMED shares. Roth Mkm upped their price target on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Stifel Nicolaus increased their target price on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. StockNews.com downgraded Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Barclays lifted their target price on Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Finally, Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Globus Medical has a consensus rating of “Moderate Buy” and an average target price of $97.09.

Insiders Place Their Bets

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

Globus Medical Stock Performance

Shares of NYSE GMED opened at $76.65 on Wednesday. The firm has a market capitalization of $10.54 billion, a P/E ratio of 102.20, a PEG ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The company’s fifty day moving average is $83.16 and its two-hundred day moving average is $79.92.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

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.