Comerica Bank Invests $1,472,000 in Globus Medical Inc (GMED)

Comerica Bank purchased a new stake in shares of Globus Medical Inc (NYSE:GMED) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 53,878 shares of the medical device company’s stock, valued at approximately $1,472,000. Comerica Bank owned about 0.06% of Globus Medical at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Aberdeen Asset Management PLC UK raised its position in shares of Globus Medical by 21.4% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 2,410,495 shares of the medical device company’s stock valued at $59,805,000 after buying an additional 424,620 shares during the period. Van Berkom & Associates Inc. raised its position in shares of Globus Medical by 4.1% in the third quarter. Van Berkom & Associates Inc. now owns 2,187,650 shares of the medical device company’s stock valued at $49,375,000 after buying an additional 85,620 shares during the period. BlackRock Fund Advisors raised its position in shares of Globus Medical by 4.0% in the third quarter. BlackRock Fund Advisors now owns 2,097,655 shares of the medical device company’s stock valued at $47,344,000 after buying an additional 79,811 shares during the period. Consonance Capital Management LP acquired a new position in shares of Globus Medical during the third quarter valued at about $41,980,000. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Globus Medical by 2.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,807,968 shares of the medical device company’s stock valued at $40,806,000 after buying an additional 45,026 shares during the period. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Globus Medical (NYSE:GMED)

Globus Medical Inc (NYSE:GMED) opened at 29.35 on Tuesday. The stock’s 50 day moving average price is $27.31 and its 200-day moving average price is $24.32. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 27.18 and a beta of 0.63. Globus Medical Inc has a 12 month low of $19.25 and a 12 month high of $29.43.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Monday, February 27th. The medical device company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.02. Globus Medical had a return on equity of 14.92% and a net margin of 21.20%. The company had revenue of $151.59 million for the quarter, compared to the consensus estimate of $149.30 million. During the same quarter in the previous year, the business earned $0.39 earnings per share. Globus Medical’s revenue was up 6.3% compared to the same quarter last year. Equities analysts anticipate that Globus Medical Inc will post $1.27 EPS for the current fiscal year.

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GMED has been the topic of several recent analyst reports. Aegis reissued a “buy” rating and issued a $31.00 price target on shares of Globus Medical in a research note on Tuesday, February 28th. Canaccord Genuity set a $27.00 price target on Globus Medical and gave the company a “hold” rating in a research note on Wednesday, January 11th. Zacks Investment Research lowered Globus Medical from a “hold” rating to a “sell” rating in a research note on Tuesday, January 3rd. Finally, Oppenheimer Holdings Inc. set a $29.00 price target on Globus Medical and gave the company a “hold” rating in a research note on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. Globus Medical has a consensus rating of “Hold” and an average price target of $25.60.

Globus Medical Company Profile

Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.

5 Day Chart for NYSE:GMED

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