Globus Medical, Inc. (NYSE:GMED) Shares Bought by Invesco Ltd.

Invesco Ltd. boosted its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 69.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 468,002 shares of the medical device company's stock after buying an additional 191,720 shares during the quarter. Invesco Ltd. owned 0.34% of Globus Medical worth $38,708,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of GMED. Norges Bank purchased a new position in shares of Globus Medical during the 4th quarter worth about $117,102,000. Raymond James Financial Inc. purchased a new position in shares of Globus Medical during the fourth quarter valued at approximately $58,405,000. Lord Abbett & CO. LLC bought a new position in shares of Globus Medical during the third quarter valued at approximately $37,948,000. Kathmere Capital Management LLC bought a new position in shares of Globus Medical during the fourth quarter valued at approximately $23,091,000. Finally, Vanguard Group Inc. raised its holdings in shares of Globus Medical by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 10,863,834 shares of the medical device company's stock worth $898,548,000 after buying an additional 240,218 shares during the period. Institutional investors own 95.16% of the company's stock.

Globus Medical Trading Up 1.1 %

Shares of NYSE GMED traded up $0.75 during midday trading on Tuesday, reaching $70.14. The company had a trading volume of 823,934 shares, compared to its average volume of 1,039,823. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93. The business's 50-day simple moving average is $75.00 and its 200 day simple moving average is $80.03. The stock has a market cap of $9.65 billion, a P/E ratio of 93.51, a P/E/G ratio of 1.61 and a beta of 1.28.

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

Analysts Set New Price Targets

GMED has been the subject of a number of research reports. Canaccord Genuity Group boosted their price target on Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a report on Friday, January 10th. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a report on Tuesday, March 18th. Stifel Nicolaus raised their price target on Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Wells Fargo & Company decreased their price objective on Globus Medical from $95.00 to $93.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Finally, Barclays increased their target price 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. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $96.91.

Globus Medical 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.