Distillate Capital Partners LLC Makes New $15.02 Million Investment in Globus Medical, Inc. (NYSE:GMED)

Distillate Capital Partners LLC acquired a new position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 181,604 shares of the medical device company's stock, valued at approximately $15,020,000. Distillate Capital Partners LLC owned approximately 0.13% of Globus Medical as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

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

Globus Medical Trading Down 0.2 %

GMED stock traded down $0.11 during trading on Thursday, reaching $71.03. 574,325 shares of the stock were exchanged, compared to its average volume of 1,040,404. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93. The firm's 50 day moving average is $76.16 and its 200 day moving average is $79.97. The firm has a market cap of $9.77 billion, a P/E ratio of 94.71, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28.

Globus Medical (NYSE:GMED - Get Free Report) last posted its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.10. The company had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. As a group, analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal 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.