Globus Medical, Inc. (NYSE:GMED) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp raised its position in Globus Medical, Inc. (NYSE:GMED) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,544 shares of the medical device company’s stock after buying an additional 233 shares during the period. Synovus Financial Corp’s holdings in Globus Medical were worth $1,203,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GMED. Vanguard Group Inc. lifted its position in shares of Globus Medical by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 10,863,834 shares of the medical device company’s stock valued at $898,548,000 after acquiring an additional 240,218 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Globus Medical by 7.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,804,330 shares of the medical device company’s stock worth $231,946,000 after purchasing an additional 199,556 shares in the last quarter. Geode Capital Management LLC raised its stake in Globus Medical by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,897,212 shares of the medical device company’s stock valued at $156,969,000 after purchasing an additional 12,151 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in Globus Medical by 13.6% in the 4th quarter. Geneva Capital Management LLC now owns 1,815,837 shares of the medical device company’s stock valued at $150,188,000 after purchasing an additional 217,707 shares in the last quarter. Finally, Norges Bank acquired a new stake in Globus Medical during the 4th quarter worth $117,102,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Stock Down 1.0 %

Shares of Globus Medical stock opened at $72.29 on Wednesday. The firm has a market cap of $9.94 billion, a PE ratio of 96.38, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93. The business’s fifty day simple moving average is $76.49 and its 200-day simple moving average is $80.03.

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

Analyst Ratings Changes

A number of brokerages have recently commented on GMED. Truist Financial reduced their target price on shares of Globus Medical from $82.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, April 11th. StockNews.com lowered shares of Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Tuesday, March 18th. Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and increased their price target for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Finally, Barclays boosted their price objective on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.91.

Globus Medical Company 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.