Globus Medical, Inc. (NYSE:GMED) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. boosted its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 133.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,824 shares of the medical device company's stock after purchasing an additional 71,979 shares during the period. Franklin Resources Inc. owned about 0.09% of Globus Medical worth $10,407,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GMED. SBI Securities Co. Ltd. bought a new position in shares of Globus Medical during the fourth quarter valued at approximately $27,000. Quarry LP lifted its position in shares of Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company's stock worth $35,000 after purchasing an additional 433 shares during the period. UMB Bank n.a. boosted its stake in shares of Globus Medical by 60.2% during 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 lifted its stake in shares of Globus Medical by 52.0% in 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 period. Finally, First Horizon Advisors Inc. grew its stake in Globus Medical by 24.7% in the fourth 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 during the period. Institutional investors own 95.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GMED shares. Truist Financial lowered their target price on shares of Globus Medical from $82.00 to $80.00 and set a "hold" rating for the company in a report on Friday. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research report on Tuesday, March 18th. StockNews.com downgraded shares of Globus Medical from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Barclays upped 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. Finally, Roth Mkm lifted their price target on shares of Globus Medical from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, December 17th. 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, Globus Medical presently has an average rating of "Moderate Buy" and a consensus price target of $96.91.

Globus Medical Trading Down 0.3 %

Shares of Globus Medical stock traded down $0.22 on Monday, hitting $72.37. 86,783 shares of the company traded hands, compared to its average volume of 1,040,094. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93. The company has a market cap of $9.95 billion, a PE ratio of 96.49, a PEG ratio of 1.61 and a beta of 1.28. The stock's 50 day moving average price is $77.20 and its 200-day moving average price is $80.07.

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