4,046 Shares in Globus Medical, Inc. (NYSE:GMED) Purchased by Stevens Capital Management LP

Stevens Capital Management LP purchased a new position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,046 shares of the medical device company's stock, valued at approximately $335,000.

Several other large investors have also recently modified their holdings of GMED. Raymond James Financial Inc. bought a new stake in Globus Medical during the fourth quarter valued at $58,405,000. ArrowMark Colorado Holdings LLC purchased a new position in Globus Medical in the third quarter worth $43,947,000. Lord Abbett & CO. LLC bought a new position in Globus Medical during the third quarter valued at approximately $37,948,000. Parsifal Capital Management LP lifted its stake in Globus Medical by 50.5% in the third quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company's stock worth $96,619,000 after purchasing an additional 453,053 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in Globus Medical during the 3rd quarter worth approximately $26,406,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

Insider Activity

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 shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 18.54% of the company's stock.

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Globus Medical Price Performance

NYSE GMED traded down $1.17 during trading hours on Friday, hitting $72.49. The company's stock had a trading volume of 924,702 shares, compared to its average volume of 1,024,446. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93. The company's 50 day simple moving average is $82.14 and its two-hundred day simple moving average is $79.85. The company has a market cap of $9.97 billion, a P/E ratio of 96.65, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.10. The firm 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 predict that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GMED has been the subject of a number of recent analyst reports. StockNews.com downgraded Globus Medical from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Bank of America raised Globus Medical from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Morgan Stanley upgraded shares of Globus Medical from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. Stifel Nicolaus lifted their price target on shares of Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, Barclays upped their price objective on shares of Globus Medical from $100.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Globus Medical currently has an average rating of "Moderate Buy" and an average target price of $97.09.

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.