Bessemer Group Inc. Has $4.98 Million Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Bessemer Group Inc. decreased its holdings in Globus Medical, Inc. (NYSE:GMED - Free Report) by 15.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,193 shares of the medical device company's stock after selling 10,975 shares during the quarter. Bessemer Group Inc.'s holdings in Globus Medical were worth $4,978,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new stake in Globus Medical in the fourth quarter valued at $27,000. UMB Bank n.a. grew its holdings in shares of Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock worth $45,000 after purchasing an additional 206 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company's stock worth $48,000 after purchasing an additional 197 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Globus Medical by 24.7% during the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company's stock valued at $55,000 after purchasing an additional 132 shares during the last quarter. Finally, Huntington National Bank boosted its position in Globus Medical by 47.8% in the fourth quarter. Huntington National Bank now owns 958 shares of the medical device company's stock valued at $79,000 after buying an additional 310 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on GMED. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a report on Tuesday, March 18th. Barclays lifted their price objective on Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Wells Fargo & Company decreased their target price on Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Bank of America upgraded shares of Globus Medical from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Finally, StockNews.com lowered shares of Globus Medical from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $96.91.

Globus Medical Price Performance

Shares of Globus Medical stock traded down $0.17 during trading on Thursday, hitting $70.98. 171,692 shares of the company were exchanged, compared to its average volume of 1,038,848. The firm has a market capitalization of $9.76 billion, a P/E ratio of 94.53, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. The firm's fifty day moving average price is $76.16 and its 200 day moving average price is $79.97. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) 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 firm had revenue of $657.29 million during the quarter, compared to analysts' expectations of $646.19 million. As a group, equities research analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

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.