6,937 Shares in Globus Medical, Inc. (NYSE:GMED) Purchased by Bryce Point Capital LLC

Bryce Point Capital LLC acquired a new position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,937 shares of the medical device company's stock, valued at approximately $574,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Globus Medical in the 4th quarter worth about $117,102,000. Raymond James Financial Inc. acquired a new position in Globus Medical in the 4th quarter valued at approximately $58,405,000. Lord Abbett & CO. LLC bought a new position in Globus Medical in the third quarter worth $37,948,000. Parsifal Capital Management LP raised its position in Globus Medical by 50.5% in the third quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company's stock worth $96,619,000 after purchasing an additional 453,053 shares in the last quarter. Finally, Kathmere Capital Management LLC acquired a new stake in Globus Medical in the 4th quarter valued at $23,091,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GMED has been the topic of a number of research analyst reports. Barclays increased their price target on Globus Medical from $100.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Truist Financial lowered their price objective on shares of Globus Medical from $90.00 to $82.00 and set a "hold" rating for the company in a research report on Tuesday, March 18th. BTIG Research raised their target price on shares of Globus Medical from $87.00 to $91.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. 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 research note on Friday, January 10th. Finally, Wells Fargo & Company dropped their price objective on Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Globus Medical presently has a consensus rating of "Moderate Buy" and an average target price of $97.09.

Insider Activity at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction dated Friday, January 10th. The shares were 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 SEC, which is accessible through the SEC website. 18.54% of the stock is owned by company insiders.

Globus Medical Stock Performance

Shares of GMED stock traded up $1.11 on Tuesday, hitting $71.86. The company's stock had a trading volume of 269,225 shares, compared to its average volume of 1,029,712. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The stock's 50 day moving average is $79.74 and its 200-day moving average is $80.10. The company has a market capitalization of $9.88 billion, a PE ratio of 96.02, a PEG ratio of 1.61 and a beta of 1.28.

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

Globus Medical Company 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.