Oxford Asset Management LLP Takes $970,000 Position in Globus Medical, Inc. (NYSE:GMED)

Oxford Asset Management LLP purchased a new stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,731 shares of the medical device company's stock, valued at approximately $970,000.

Several other institutional investors have also recently added to or reduced their stakes in GMED. Wilmington Savings Fund Society FSB lifted its holdings in Globus Medical by 11.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 14,470 shares of the medical device company's stock valued at $1,035,000 after purchasing an additional 1,470 shares during the last quarter. Synovus Financial Corp lifted its holdings in Globus Medical by 9.8% during the 3rd quarter. Synovus Financial Corp now owns 14,311 shares of the medical device company's stock valued at $1,024,000 after purchasing an additional 1,281 shares during the last quarter. Franklin Resources Inc. bought a new position in Globus Medical during the 3rd quarter valued at about $3,833,000. Lord Abbett & CO. LLC bought a new position in Globus Medical during the 3rd quarter valued at about $37,948,000. Finally, GAMMA Investing LLC raised its stake in shares of Globus Medical by 41.7% in the fourth quarter. GAMMA Investing LLC now owns 1,258 shares of the medical device company's stock worth $104,000 after acquiring an additional 370 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GMED shares. Truist Financial dropped their target price on shares of Globus Medical from $82.00 to $80.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company dropped 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. Bank of America raised shares of Globus Medical from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research note on Tuesday, March 18th. Finally, Stifel Nicolaus boosted their target price 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 analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $96.91.

Globus Medical Stock Down 0.4 %

NYSE GMED traded down $0.28 during trading on Tuesday, reaching $72.34. 877,675 shares of the stock traded hands, compared to its average volume of 1,041,775. The firm has a market cap of $9.95 billion, a price-to-earnings ratio of 96.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. The stock's 50-day moving average price is $74.07 and its 200 day moving average price is $80.17. 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 issued its quarterly earnings data 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. The firm had revenue of $657.29 million during the quarter, compared to analysts' expectations of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. Analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

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.