Grantham Mayo Van Otterloo & Co. LLC lessened its position in Globus Medical, Inc. (NYSE:GMED - Free Report) by 25.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 500,484 shares of the medical device company's stock after selling 172,994 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 0.37% of Globus Medical worth $41,395,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the company. FMR LLC grew its stake in shares of Globus Medical by 338.4% during the third quarter. FMR LLC now owns 38,723 shares of the medical device company's stock valued at $2,770,000 after buying an additional 29,890 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Globus Medical by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 291,170 shares of the medical device company's stock valued at $20,830,000 after purchasing an additional 3,584 shares during the period. Verition Fund Management LLC grew its holdings in shares of Globus Medical by 7.1% in the third quarter. Verition Fund Management LLC now owns 9,980 shares of the medical device company's stock worth $714,000 after purchasing an additional 665 shares during the last quarter. IHT Wealth Management LLC purchased a new position in Globus Medical in the 3rd quarter worth about $201,000. Finally, Point72 Asset Management L.P. bought a new stake in Globus Medical during the 3rd quarter valued at about $10,415,000. 95.16% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Globus Medical 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 document filed with the SEC, which is accessible through this link. 18.54% of the stock is currently owned by corporate insiders.
Globus Medical Trading Down 3.8 %
Shares of GMED stock traded down $2.79 during trading hours on Thursday, reaching $71.49. 472,799 shares of the company's stock were exchanged, compared to its average volume of 1,037,084. The stock's 50 day moving average is $78.02 and its 200-day moving average is $79.99. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The company has a market cap of $9.83 billion, a price-to-earnings ratio of 95.25, a P/E/G ratio of 1.61 and a beta of 1.28.
Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.74 by $0.10. The business had revenue of $657.29 million during the quarter, compared to the consensus estimate of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. Equities analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.
Analysts Set New Price Targets
Several analysts have recently weighed in on GMED shares. Truist Financial decreased their price target on shares of Globus Medical from $90.00 to $82.00 and set a "hold" rating for the company in a research note on Tuesday, March 18th. Needham & Company LLC reissued a "hold" rating on shares of Globus Medical in a research report on Tuesday, March 18th. StockNews.com downgraded Globus Medical from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Canaccord Genuity Group increased their target price on shares of Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Finally, Stifel Nicolaus boosted their price target on shares of Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a report on Friday, February 21st. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $97.09.
Check Out Our Latest Analysis on GMED
About Globus Medical
(
Free Report)
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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