First Hawaiian Bank Raises Stake in Globus Medical, Inc. $GMED

First Hawaiian Bank boosted its holdings in shares of Globus Medical, Inc. (NYSE:GMED – Free Report) by 15.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,350 shares of the medical device company’s stock after acquiring an additional 856 shares during the period. First Hawaiian Bank’s holdings in Globus Medical were worth $465,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in Globus Medical by 145.5% during the 1st quarter. Farther Finance Advisors LLC now owns 405 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 240 shares during the period. Larson Financial Group LLC lifted its position in Globus Medical by 1,007.7% during the 1st quarter. Larson Financial Group LLC now owns 432 shares of the medical device company’s stock valued at $32,000 after acquiring an additional 393 shares during the period. Parallel Advisors LLC lifted its position in Globus Medical by 62.1% during the 1st quarter. Parallel Advisors LLC now owns 504 shares of the medical device company’s stock valued at $37,000 after acquiring an additional 193 shares during the period. Versant Capital Management Inc lifted its position in Globus Medical by 932.1% during the 1st quarter. Versant Capital Management Inc now owns 547 shares of the medical device company’s stock valued at $40,000 after acquiring an additional 494 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its position in Globus Medical by 202.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 572 shares of the medical device company’s stock valued at $42,000 after acquiring an additional 383 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. BTIG Research reissued a “neutral” rating on shares of Globus Medical in a research report on Tuesday, May 27th. Wall Street Zen raised shares of Globus Medical from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company decreased their target price on shares of Globus Medical from $76.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Canaccord Genuity Group decreased their target price on shares of Globus Medical from $97.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 22nd. Finally, Barclays reaffirmed an “overweight” rating on shares of Globus Medical in a report on Tuesday, June 10th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.64.
Check Out Our Latest Stock Analysis on GMED
Globus Medical Price Performance
GMED opened at $58.18 on Tuesday. The firm has a market cap of $7.86 billion, a P/E ratio of 22.38, a PEG ratio of 1.61 and a beta of 1.16. Globus Medical, Inc. has a 1-year low of $51.79 and a 1-year high of $94.93. The company has a 50 day simple moving average of $57.82 and a two-hundred day simple moving average of $63.52.
Globus Medical (NYSE:GMED – Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The medical device company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. The business had revenue of $745.34 million during the quarter, compared to analyst estimates of $738.91 million. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. The company’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. Equities analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current year.
Globus Medical Company Profile
(Free Report)
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.
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