Johnson Financial Group Inc. Acquires 976 Shares of Globus Medical, Inc. (NYSE:GMED)

Johnson Financial Group Inc. raised its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 827.1% during the fourth quarter, Holdings Channel reports. The fund owned 1,094 shares of the medical device company’s stock after buying an additional 976 shares during the period. Johnson Financial Group Inc.’s holdings in Globus Medical were worth $90,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GMED. Norges Bank bought a new position in shares of Globus Medical in the fourth quarter worth approximately $117,102,000. Raymond James Financial Inc. bought a new position in shares of Globus Medical in the fourth quarter worth approximately $58,405,000. Lord Abbett & CO. LLC bought a new position in shares of Globus Medical in the third quarter worth approximately $37,948,000. Marshall Wace LLP grew its holdings in shares of Globus Medical by 74.9% in the fourth quarter. Marshall Wace LLP now owns 1,136,266 shares of the medical device company’s stock worth $93,981,000 after purchasing an additional 486,756 shares during the last quarter. Finally, Kathmere Capital Management LLC bought a new position in shares of Globus Medical in the fourth quarter worth approximately $23,091,000. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Trading Down 0.3 %

Shares of Globus Medical stock opened at $72.58 on Tuesday. The firm has a market capitalization of $9.98 billion, a P/E ratio of 96.77, a P/E/G ratio of 1.61 and a beta of 1.28. The business has a fifty day simple moving average of $74.07 and a two-hundred day simple moving average of $80.17. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93.

Globus Medical (NYSE:GMED) last issued 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. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The firm had revenue of $657.29 million during the quarter, compared to the consensus estimate of $646.19 million. Analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GMED shares. StockNews.com cut shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Barclays raised their price target on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Stifel Nicolaus raised their price target on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Canaccord Genuity Group raised their price target on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company dropped their price target on Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.91.

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.