Russell Investments Group Ltd. Acquires 27,446 Shares of Globus Medical, Inc. (NYSE:GMED)

Russell Investments Group Ltd. grew its stake in Globus Medical, Inc. (NYSE:GMED - Free Report) by 527.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,645 shares of the medical device company's stock after buying an additional 27,446 shares during the quarter. Russell Investments Group Ltd.'s holdings in Globus Medical were worth $2,700,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in Globus Medical in the 4th quarter worth approximately $27,000. UMB Bank n.a. lifted its holdings 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 in the last quarter. V Square Quantitative Management LLC boosted its position in shares of 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 period. First Horizon Advisors Inc. increased its stake in shares of Globus Medical by 24.7% in the fourth 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 in the last quarter. Finally, Huntington National Bank raised its position in shares of Globus Medical by 47.8% during the 4th quarter. Huntington National Bank now owns 958 shares of the medical device company's stock valued at $79,000 after purchasing an additional 310 shares during the period. Institutional investors own 95.16% of the company's stock.

Globus Medical Trading Up 5.4 %

GMED traded up $3.77 during trading hours on Wednesday, hitting $73.83. The company's stock had a trading volume of 215,732 shares, compared to its average volume of 1,291,432. The business's 50-day moving average price is $75.00 and its 200-day moving average price is $80.03. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93. The stock has a market cap of $10.15 billion, a price-to-earnings ratio of 98.44, a P/E/G ratio of 1.61 and a beta of 1.28.

Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly earnings results 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 company had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. On average, analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GMED shares. Barclays increased their price target on Globus Medical from $100.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Stifel Nicolaus increased their target price on Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Canaccord Genuity Group lifted their target price on Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Bank of America upgraded Globus Medical from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. Finally, Wells Fargo & Company cut their price objective on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.91.

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.