Globus Medical, Inc. (NYSE:GMED) Stake Trimmed by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD cut its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,123,132 shares of the medical device company's stock after selling 9,901 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.82% of Globus Medical worth $92,895,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Globus Medical during the fourth quarter worth approximately $27,000. UMB Bank n.a. lifted its position in Globus Medical by 60.2% in the 4th 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 lifted its position in 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 worth $48,000 after buying an additional 197 shares in the last quarter. First Horizon Advisors Inc. boosted its stake 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 valued at $55,000 after buying an additional 132 shares during the period. Finally, Huntington National Bank grew its holdings in shares of Globus Medical by 47.8% during the 4th quarter. Huntington National Bank now owns 958 shares of the medical device company's stock valued at $79,000 after acquiring an additional 310 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Stock Performance

Globus Medical stock opened at $72.86 on Monday. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93. The firm has a market capitalization of $10.02 billion, a PE ratio of 97.15, a PEG ratio of 1.61 and a beta of 1.28. The business's 50-day simple moving average is $74.30 and its 200-day simple moving average is $80.16.

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 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 company had revenue of $657.29 million during the quarter, compared to analysts' expectations of $646.19 million. Research analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on GMED. Truist Financial reduced their price objective on Globus Medical from $82.00 to $80.00 and set a "hold" rating for the company in a research report on Friday, April 11th. StockNews.com lowered Globus Medical from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Barclays increased their price objective on Globus Medical from $100.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Wells Fargo & Company reduced their target price on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Finally, Bank of America upgraded shares of Globus Medical from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $80.00 to $97.00 in a research note 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.91.

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.

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