Globus Medical, Inc. (NYSE:GMED) Stock Holdings Lessened by Sirios Capital Management L P

Sirios Capital Management L P cut its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 368,163 shares of the medical device company's stock after selling 11,026 shares during the period. Globus Medical makes up 5.5% of Sirios Capital Management L P's investment portfolio, making the stock its 4th biggest holding. Sirios Capital Management L P owned 0.27% of Globus Medical worth $30,451,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in Globus Medical by 255.9% in the fourth quarter. American Century Companies Inc. now owns 103,833 shares of the medical device company's stock valued at $8,588,000 after purchasing an additional 74,659 shares during the period. Oak Thistle LLC acquired a new stake in shares of Globus Medical in the 4th quarter valued at approximately $376,000. bLong Financial LLC purchased a new stake in shares of Globus Medical in the fourth quarter valued at approximately $397,000. Kathmere Capital Management LLC acquired a new position in Globus Medical during the fourth quarter worth $23,091,000. Finally, HB Wealth Management LLC acquired a new position in Globus Medical during the fourth quarter worth $301,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GMED shares. Wells Fargo & Company reduced their price target on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Canaccord Genuity Group boosted their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Barclays raised their target price on shares of Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Bank of America raised shares of Globus Medical from an "underperform" rating to a "neutral" rating and upped their price target for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Finally, Stifel Nicolaus raised their price objective 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. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $96.91.

Globus Medical Stock Performance

Shares of NYSE GMED opened at $70.14 on Wednesday. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93. The stock's 50-day simple moving average is $75.00 and its 200-day simple moving average is $80.03. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of 93.51, a PEG ratio of 1.61 and a beta of 1.28.

Globus Medical (NYSE:GMED - Get Free Report) last announced its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating 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 company had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. As a group, research analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current year.

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.

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