Bank Pictet & Cie Europe AG Has $380,000 Holdings in Globus Medical, Inc. (NYSE:GMED)

Bank Pictet & Cie Europe AG lessened its holdings in Globus Medical, Inc. (NYSE:GMED) by 11.9% during the fourth quarter, HoldingsChannel.com reports. The fund 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 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of GMED. Coldstream Capital Management Inc. boosted its stake in shares of 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 purchasing an additional 131 shares in the last quarter. Stephens Inc. AR grew its holdings 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 valued at $303,000 after purchasing an additional 138 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings 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 valued at $403,000 after purchasing an additional 140 shares during the last quarter. Berry Wealth Group LP grew its holdings 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 valued at $282,000 after purchasing an additional 164 shares during the last quarter. Finally, Mather Group LLC. grew its holdings 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 valued at $112,000 after purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Activity

In related news, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was 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 accessible through this link. Also, SVP Kelly Huller sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

Globus Medical Trading Down 0.2 %

Shares of GMED stock opened at $83.99 on Friday. The stock has a market cap of $11.44 billion, a price-to-earnings ratio of 125.36, a PEG ratio of 1.68 and a beta of 1.19. The stock has a 50-day moving average of $86.65 and a 200-day moving average of $78.56. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93.

Wall Street Analysts Forecast Growth

GMED has been the topic of several research reports. Stifel Nicolaus lifted their price target on shares of Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Piper Sandler lifted their price target on shares of Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Wells Fargo & Company lifted their price target on shares of Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Globus Medical has a consensus rating of “Moderate Buy” and an average target price 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.