Marshall Wace LLP Acquires 486,756 Shares of Globus Medical, Inc. (NYSE:GMED)

Marshall Wace LLP lifted its position in Globus Medical, Inc. (NYSE:GMED - Free Report) by 74.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,136,266 shares of the medical device company's stock after purchasing an additional 486,756 shares during the period. Marshall Wace LLP owned about 0.83% of Globus Medical worth $93,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC increased its stake in Globus Medical by 24.6% in the 4th quarter. NewEdge Advisors LLC now owns 5,909 shares of the medical device company's stock worth $489,000 after buying an additional 1,166 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of Globus Medical during the fourth quarter worth about $287,000. Guggenheim Capital LLC purchased a new stake in shares of Globus Medical during the fourth quarter worth about $907,000. Investment Counsel Co. of Nevada bought a new stake in Globus Medical during the 4th quarter valued at approximately $83,000. Finally, Mariner LLC lifted its holdings in Globus Medical by 10.8% in the 4th quarter. Mariner LLC now owns 13,784 shares of the medical device company's stock worth $1,140,000 after purchasing an additional 1,342 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on GMED. StockNews.com cut shares of 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 shares of Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Canaccord Genuity Group increased their price objective on shares of 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 reaffirmed a "hold" rating on shares of Globus Medical in a report on Tuesday, March 18th. Finally, Barclays increased their price target on Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $96.91.

Globus Medical Price Performance

Shares of Globus Medical stock traded up $0.30 on Tuesday, reaching $69.69. The company had a trading volume of 152,054 shares, compared to its average volume of 1,036,909. The firm has a market cap of $9.58 billion, a price-to-earnings ratio of 92.93, a P/E/G ratio of 1.61 and a beta of 1.28. The firm's 50-day moving average price is $75.28 and its two-hundred day moving average price is $80.10. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93.

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 for the quarter, beating analysts' consensus estimates 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, analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current 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.