Alliancebernstein L.P. Raises Stake in Globus Medical, Inc. (NYSE:GMED)

Alliancebernstein L.P. increased its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 14.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,501 shares of the medical device company's stock after purchasing an additional 21,516 shares during the period. Alliancebernstein L.P. owned approximately 0.13% of Globus Medical worth $14,350,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of GMED. FMR LLC grew its holdings in shares of Globus Medical by 338.4% during the third quarter. FMR LLC now owns 38,723 shares of the medical device company's stock worth $2,770,000 after buying an additional 29,890 shares in the last quarter. Verition Fund Management LLC lifted its position in shares of Globus Medical by 7.1% in the third quarter. Verition Fund Management LLC now owns 9,980 shares of the medical device company's stock worth $714,000 after purchasing an additional 665 shares in the last quarter. IHT Wealth Management LLC bought a new stake in Globus Medical during the 3rd quarter worth about $201,000. Quarry LP boosted its stake in shares of Globus Medical by 698.4% during the 3rd quarter. Quarry LP now owns 495 shares of the medical device company's stock worth $35,000 after buying an additional 433 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Globus Medical by 18.5% in the third quarter. Quantinno Capital Management LP now owns 3,889 shares of the medical device company's stock valued at $278,000 after acquiring an additional 606 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Globus Medical Price Performance

Shares of NYSE:GMED traded down $0.22 during trading on Monday, reaching $72.37. 86,783 shares of the stock were exchanged, compared to its average volume of 1,040,094. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93. The stock has a fifty day moving average of $77.20 and a two-hundred day moving average of $80.07. The firm has a market cap of $9.95 billion, a price-to-earnings ratio of 96.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28.

Globus Medical (NYSE:GMED - Get Free Report) last announced its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.10. The company had revenue of $657.29 million for the quarter, compared to analysts' expectations of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. Sell-side analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on GMED. Roth Mkm raised their price target on Globus Medical from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, December 17th. Wells Fargo & Company cut their price objective on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Bank of America upgraded shares of Globus Medical from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Stifel Nicolaus raised their price objective on Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, Barclays raised their target price on shares of Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $96.91.

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.