O Shaughnessy Asset Management LLC Boosts Stock Position in Globus Medical, Inc. (NYSE:GMED)

O Shaughnessy Asset Management LLC grew its holdings in Globus Medical, Inc. (NYSE:GMED - Free Report) by 290.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,823 shares of the medical device company's stock after acquiring an additional 14,000 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Globus Medical were worth $1,557,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CIBC Private Wealth Group LLC boosted its position in shares of Globus Medical by 8,104.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 136,845 shares of the medical device company's stock worth $11,844,000 after buying an additional 135,177 shares during the period. Okabena Investment Services Inc. acquired a new stake in shares of Globus Medical in the fourth quarter valued at approximately $644,000. Norges Bank acquired a new stake in shares of Globus Medical in the fourth quarter valued at approximately $117,102,000. JPMorgan Chase & Co. increased its stake in shares of Globus Medical by 7.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,804,330 shares of the medical device company's stock worth $231,946,000 after purchasing an additional 199,556 shares during the period. Finally, Summitry LLC bought a new position in shares of Globus Medical during the fourth quarter worth approximately $298,000. 95.16% of the stock is currently owned by institutional investors.

Insider Transactions at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 18.54% of the company's stock.

Globus Medical Stock Performance

GMED traded down $3.02 during midday trading on Thursday, reaching $71.26. 110,502 shares of the company were exchanged, compared to its average volume of 1,035,609. The company's fifty day moving average price is $78.02 and its 200 day moving average price is $79.99. The company has a market cap of $9.80 billion, a price-to-earnings ratio of 95.26, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.10. The firm had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. As a group, sell-side analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on GMED. Roth Mkm raised their price objective on Globus Medical from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, December 17th. Wells Fargo & Company cut their price objective on Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Stifel Nicolaus lifted their target price on Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Bank of America raised Globus Medical from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Finally, StockNews.com lowered Globus Medical from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $97.09.

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.