Bank Pictet & Cie Europe AG Sells 621 Shares of Globus Medical, Inc. (NYSE:GMED)

Bank Pictet & Cie Europe AG decreased its position in Globus Medical, Inc. (NYSE:GMED) by 11.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,597 shares of the medical device company’s stock after selling 621 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Globus Medical were worth $380,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Coldstream Capital Management Inc. raised its stake in shares of Globus Medical by 2.2% during the 3rd 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 in the last quarter. Stephens Inc. AR raised its stake in shares of Globus Medical by 3.4% during the 3rd quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock worth $303,000 after purchasing an additional 138 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Globus Medical by 2.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock worth $403,000 after purchasing an additional 140 shares in the last quarter. Berry Wealth Group LP raised its stake in shares of Globus Medical by 5.1% during the 4th 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 in the last quarter. Finally, Mather Group LLC. raised its stake in shares of Globus Medical by 16.3% during the 4th quarter. Mather Group LLC. now owns 1,356 shares of the medical device company’s stock worth $112,000 after purchasing an additional 190 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of the company’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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kelly Huller sold 2,500 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $87.00, for a total transaction of $217,500.00. The disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Globus Medical from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Truist Financial upped their price objective on Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Roth Mkm boosted their target price on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. BTIG Research boosted their target price on Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada boosted their target price on Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Three research 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.91.

Globus Medical Price Performance

Shares of NYSE GMED opened at $83.99 on Friday. The stock’s fifty day moving average price is $86.65 and its two-hundred day moving average price is $78.56. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 125.36, a P/E/G ratio of 1.68 and a beta of 1.19.

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.