Massar Capital Management LP Makes New Investment in Globus Medical, Inc. (NYSE:GMED)

Massar Capital Management LP purchased a new stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 27,576 shares of the medical device company's stock, valued at approximately $2,281,000. Globus Medical comprises about 2.6% of Massar Capital Management LP's portfolio, making the stock its 12th biggest holding.

A number of other institutional investors have also bought and sold shares of GMED. Norges Bank bought a new stake in Globus Medical during the fourth quarter valued at $117,102,000. Raymond James Financial Inc. bought a new position in shares of Globus Medical during the 4th quarter worth about $58,405,000. Lord Abbett & CO. LLC bought a new position in shares of Globus Medical during the 3rd quarter worth about $37,948,000. Marshall Wace LLP boosted its position in shares of Globus Medical by 74.9% during the 4th quarter. Marshall Wace LLP now owns 1,136,266 shares of the medical device company's stock worth $93,981,000 after purchasing an additional 486,756 shares in the last quarter. Finally, Kathmere Capital Management LLC bought a new position in shares of Globus Medical during the 4th quarter worth about $23,091,000. Institutional investors own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GMED shares. Bank of America raised shares of Globus Medical from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. StockNews.com cut shares of Globus Medical from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Stifel Nicolaus raised their price target on shares of Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research report on Tuesday, March 18th. Finally, Barclays raised their price target on shares of Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Globus Medical has an average rating of "Moderate Buy" and an average target price of $96.91.

Globus Medical Trading Down 0.3 %

Shares of GMED stock traded down $0.21 during trading hours on Friday, hitting $72.86. 629,024 shares of the company were exchanged, compared to its average volume of 1,041,601. The firm has a fifty day simple moving average of $74.30 and a 200 day simple moving average of $80.16. Globus Medical, Inc. has a 52-week low of $49.33 and a 52-week high of $94.93. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of 97.15, a P/E/G ratio of 1.61 and a beta of 1.28.

Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share 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 business had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. Sell-side analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.

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.