Knights of Columbus Asset Advisors LLC Acquires 41,887 Shares of Globus Medical, Inc. (NYSE:GMED)

Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 96.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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’s holdings in Globus Medical were worth $4,535,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Globus Medical by 49.7% during the 3rd quarter. Vanguard Group Inc. now owns 11,245,502 shares of the medical device company’s stock worth $558,339,000 after acquiring an additional 3,732,959 shares in the last quarter. BlackRock Inc. boosted its position in shares of Globus Medical by 0.5% during the 1st quarter. BlackRock Inc. now owns 7,508,520 shares of the medical device company’s stock worth $425,283,000 after acquiring an additional 33,806 shares in the last quarter. Nuance Investments LLC boosted its position in shares of Globus Medical by 36.8% during the 3rd quarter. Nuance Investments LLC now owns 3,620,518 shares of the medical device company’s stock worth $179,759,000 after acquiring an additional 974,693 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Globus Medical by 0.6% during the 1st quarter. Wellington Management Group LLP now owns 3,236,599 shares of the medical device company’s stock worth $238,796,000 after acquiring an additional 20,375 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Globus Medical by 80.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,406,682 shares of the medical device company’s stock worth $119,492,000 after acquiring an additional 1,069,419 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

Globus Medical Price Performance

Shares of NYSE GMED opened at $50.37 on Friday. Globus Medical, Inc. has a twelve month low of $43.38 and a twelve month high of $62.88. The firm has a fifty day simple moving average of $53.19 and a 200 day simple moving average of $51.37. The company has a market capitalization of $6.82 billion, a PE ratio of 43.05, a P/E/G ratio of 1.49 and a beta of 1.08. The company has a quick ratio of 2.72, a current ratio of 4.88 and a debt-to-equity ratio of 0.10.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, February 20th. The medical device company reported $0.60 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $608.21 million. During the same quarter last year, the firm earned $0.59 earnings per share. Globus Medical’s quarterly revenue was up 124.6% on a year-over-year basis. On average, sell-side analysts forecast that Globus Medical, Inc. will post 2.69 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on GMED shares. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price target on shares of Globus Medical in a research report on Thursday, January 11th. Truist Financial raised their target price 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. Stifel Nicolaus raised 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. Finally, BTIG Research upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Monday, March 18th. Four research 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 stock has an average rating of “Moderate Buy” and an average price target of $66.33.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, Director Leslie V. Norwalk sold 10,590 shares of Globus Medical stock in a transaction on 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 directly owns 17,419 shares of the company’s stock, valued at $905,613.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 24.30% of the company’s stock.

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.