American Century Companies Inc. Buys 74,659 Shares of Globus Medical, Inc. (NYSE:GMED)

American Century Companies Inc. increased its stake in Globus Medical, Inc. (NYSE:GMED - Free Report) by 255.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,833 shares of the medical device company's stock after purchasing an additional 74,659 shares during the quarter. American Century Companies Inc. owned approximately 0.08% of Globus Medical worth $8,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of GMED. Coldstream Capital Management Inc. lifted its holdings in shares of Globus Medical by 2.2% in the third 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. First Horizon Advisors Inc. lifted its stake in Globus Medical by 24.7% in the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company's stock worth $55,000 after acquiring an additional 132 shares in the last quarter. US Bancorp DE boosted its position in Globus Medical by 3.2% during the 4th quarter. US Bancorp DE now owns 4,305 shares of the medical device company's stock worth $356,000 after acquiring an additional 135 shares during the period. Berry Wealth Group LP grew its stake in 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 acquiring an additional 164 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Globus Medical by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company's stock valued at $288,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 95.16% of the company's stock.

Globus Medical Stock Performance

Shares of GMED traded down $2.27 during trading hours on Tuesday, hitting $68.48. 1,287,304 shares of the company were exchanged, compared to its average volume of 1,033,136. The company has a market cap of $9.42 billion, a PE ratio of 91.31, a PEG ratio of 1.61 and a beta of 1.28. The firm's 50 day moving average is $78.77 and its 200-day moving average is $80.01. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93.

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, topping analysts' consensus estimates of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The firm had revenue of $657.29 million during the quarter, compared to analysts' expectations of $646.19 million. As a group, equities analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Canaccord Genuity Group raised their price target on shares of Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Barclays boosted their price target 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research note on Tuesday, March 18th. Truist Financial reduced their price objective on Globus Medical from $90.00 to $82.00 and set a "hold" rating for the company in a research report on Tuesday, March 18th. Finally, BTIG Research boosted their target price on Globus Medical from $87.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Four research 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, the company has an average rating of "Moderate Buy" and a consensus price target of $97.09.

Insider Buying and Selling at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of the business's stock in a transaction dated 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. Corporate insiders own 18.54% of the company's stock.

About Globus Medical

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.