Globus Medical, Inc. (NYSE:GMED) Stock Position Trimmed by Kennedy Capital Management LLC

Kennedy Capital Management LLC reduced its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 441,773 shares of the medical device company's stock after selling 9,960 shares during the period. Globus Medical accounts for about 0.8% of Kennedy Capital Management LLC's investment portfolio, making the stock its 6th largest holding. Kennedy Capital Management LLC owned about 0.32% of Globus Medical worth $36,539,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new position in shares of Globus Medical during the fourth quarter valued at $27,000. Quarry LP raised its holdings in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company's stock valued at $35,000 after purchasing an additional 433 shares during the last quarter. UMB Bank n.a. lifted its position in Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock valued at $45,000 after purchasing an additional 206 shares during the period. V Square Quantitative Management LLC boosted its holdings in Globus Medical by 52.0% in the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company's stock worth $48,000 after purchasing an additional 197 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in Globus Medical by 24.7% in the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company's stock worth $55,000 after purchasing an additional 132 shares during the period. 95.16% of the stock is owned by institutional investors.

Globus Medical Trading Down 1.1 %

Shares of NYSE:GMED traded down $0.79 during midday trading on Tuesday, reaching $72.19. 326,190 shares of the company were exchanged, compared to its average volume of 1,040,615. The stock has a market cap of $9.93 billion, a PE ratio of 96.25, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. The business's fifty day moving average is $76.81 and its two-hundred day moving average is $80.09. 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 released its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, topping 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 business had revenue of $657.29 million for the quarter, compared to the consensus estimate of $646.19 million. As a group, sell-side analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current year.

Analyst Ratings Changes

GMED has been the subject of several research analyst reports. Truist Financial cut their price objective on Globus Medical from $82.00 to $80.00 and set a "hold" rating for the company in a report on Friday. Roth Mkm raised their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, December 17th. Bank of America raised shares of Globus Medical from an "underperform" rating to a "neutral" rating and upped their target price for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Canaccord Genuity Group boosted their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research report on Tuesday, March 18th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $96.91.

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.