Proficio Capital Partners LLC Takes $1.19 Million Position in Globus Medical, Inc. (NYSE:GMED)

Proficio Capital Partners LLC bought a new stake in Globus Medical, Inc. (NYSE:GMED) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 14,392 shares of the medical device company’s stock, valued at approximately $1,190,000.

Several other institutional investors have also recently bought and sold shares of the company. Coldstream Capital Management Inc. lifted its stake in Globus Medical by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock valued at $447,000 after acquiring an additional 131 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Globus Medical by 24.7% in the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock valued at $55,000 after acquiring an additional 132 shares in the last quarter. US Bancorp DE lifted its stake in Globus Medical by 3.2% in the 4th quarter. US Bancorp DE now owns 4,305 shares of the medical device company’s stock valued at $356,000 after acquiring an additional 135 shares in the last quarter. Berry Wealth Group LP lifted its stake in Globus Medical by 5.1% in the 4th quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock valued at $282,000 after acquiring an additional 164 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Globus Medical by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company’s stock valued at $288,000 after acquiring an additional 175 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Globus Medical Trading Up 0.7 %

GMED stock opened at $73.86 on Friday. The firm has a market capitalization of $10.16 billion, a PE ratio of 98.48, a PEG ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93. The business’s 50 day simple moving average is $83.88 and its 200 day simple moving average is $79.71.

Globus Medical (NYSE:GMED) last posted its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. The business had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. As a group, sell-side analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 18.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GMED. Canaccord Genuity Group boosted their price target on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. BTIG Research boosted their price target on Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Wells Fargo & Company lowered their price target on Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.09.

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.