Globus Medical, Inc. (NYSE:GMED) Stock Holdings Decreased by Legal & General Group Plc

Legal & General Group Plc decreased its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 297,655 shares of the medical device company's stock after selling 25,177 shares during the period. Legal & General Group Plc owned about 0.22% of Globus Medical worth $24,619,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. American Century Companies Inc. grew its position in shares of Globus Medical by 255.9% during the 4th quarter. American Century Companies Inc. now owns 103,833 shares of the medical device company's stock valued at $8,588,000 after buying an additional 74,659 shares during the last quarter. Oak Thistle LLC bought a new position in shares of Globus Medical during the fourth quarter valued at approximately $376,000. bLong Financial LLC bought a new position in shares of Globus Medical during the fourth quarter valued at approximately $397,000. Kathmere Capital Management LLC acquired a new stake in shares of Globus Medical during the 4th quarter worth approximately $23,091,000. Finally, HB Wealth Management LLC bought a new stake in shares of Globus Medical in the 4th quarter worth approximately $301,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research report on Tuesday, March 18th. Bank of America raised shares of Globus Medical from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. 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. Canaccord Genuity Group raised their price target on shares of Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Finally, Stifel Nicolaus lifted their price target on Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.91.

Globus Medical Price Performance

Shares of Globus Medical stock traded down $0.11 during trading on Friday, hitting $71.03. The stock had a trading volume of 574,325 shares, compared to its average volume of 1,039,925. The business has a fifty day moving average of $75.84 and a two-hundred day moving average of $79.97. The firm has a market cap of $9.77 billion, a P/E ratio of 94.71, a PEG ratio of 1.61 and a beta of 1.28. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93.

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. The company had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. As a group, research analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

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.