Bridge City Capital LLC Boosts Holdings in Globus Medical, Inc. (NYSE:GMED)

Bridge City Capital LLC increased its stake in Globus Medical, Inc. (NYSE:GMED - Free Report) by 8.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,875 shares of the medical device company's stock after purchasing an additional 8,732 shares during the period. Globus Medical accounts for 2.6% of Bridge City Capital LLC's portfolio, making the stock its 3rd largest holding. Bridge City Capital LLC owned about 0.09% of Globus Medical worth $9,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Coldstream Capital Management Inc. raised its stake in shares of Globus Medical by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company's stock worth $447,000 after buying an additional 131 shares during the last quarter. First Horizon Advisors Inc. grew 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 worth $55,000 after acquiring an additional 132 shares during the period. US Bancorp DE lifted its stake in shares of Globus Medical by 3.2% in the 4th quarter. US Bancorp DE now owns 4,305 shares of the medical device company's stock valued at $356,000 after purchasing an additional 135 shares during the period. Berry Wealth Group LP lifted its stake in shares of Globus Medical by 5.1% in the 4th quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company's stock valued at $282,000 after purchasing an additional 164 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Globus Medical by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company's stock worth $288,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

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Insider Activity at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the firm's 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 Securities & Exchange Commission, which is accessible through this link. 18.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GMED shares. Wells Fargo & Company cut their target price 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. Canaccord Genuity Group increased their price target on shares of Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Stifel Nicolaus boosted their price objective on shares of Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a report on Friday, February 21st. Truist Financial cut their target price on shares of Globus Medical from $90.00 to $82.00 and set a "hold" rating on the stock in a report on Tuesday, March 18th. Finally, Bank of America raised shares of Globus Medical from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $97.09.

Globus Medical Price Performance

GMED stock traded down $0.69 during trading hours on Thursday, reaching $73.66. 899,778 shares of the stock were exchanged, compared to its average volume of 999,511. The firm's 50-day moving average is $82.50 and its 200-day moving average is $79.83. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93. The company has a market cap of $10.13 billion, a price-to-earnings ratio of 98.22, a PEG ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The business had revenue of $657.29 million during the quarter, compared to the consensus estimate of $646.19 million. As a group, equities research analysts forecast 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.