Geode Capital Management LLC Has $156.97 Million Stake in Globus Medical, Inc. (NYSE:GMED)

Geode Capital Management LLC boosted its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,897,212 shares of the medical device company's stock after acquiring an additional 12,151 shares during the quarter. Geode Capital Management LLC owned approximately 1.39% of Globus Medical worth $156,969,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GMED. SBI Securities Co. Ltd. bought a new stake in shares of Globus Medical during the 4th quarter worth $27,000. Quarry LP increased its position in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company's stock valued at $35,000 after purchasing an additional 433 shares during the period. UMB Bank n.a. boosted its stake in Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock worth $45,000 after buying an additional 206 shares in the last quarter. V Square Quantitative Management LLC raised 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 buying an additional 197 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of 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 acquiring an additional 132 shares during the period. 95.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GMED has been the subject of a number of analyst reports. Bank of America upgraded shares of Globus Medical from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. Needham & Company LLC reissued a "hold" rating on shares of Globus Medical in a report on Tuesday, March 18th. Truist Financial reduced their price target on shares of Globus Medical from $82.00 to $80.00 and set a "hold" rating on the stock in a research report on Friday. Barclays raised their price target on 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 raised their target price on shares of Globus Medical from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Globus Medical has an average rating of "Moderate Buy" and a consensus target price of $96.91.

Globus Medical Stock Up 2.5 %

Shares of GMED traded up $1.77 on Friday, hitting $72.75. The company's stock had a trading volume of 1,158,621 shares, compared to its average volume of 1,042,545. The firm's fifty day moving average price is $77.20 and its 200-day moving average price is $80.00. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The firm has a market capitalization of $10.01 billion, a price-to-earnings ratio of 97.00, a P/E/G ratio of 1.61 and a beta of 1.28.

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, beating the consensus estimate of $0.74 by $0.10. The business had revenue of $657.29 million for the quarter, compared to analysts' expectations of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. As a group, equities 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.