Trexquant Investment LP Makes New Investment in Globus Medical, Inc. (NYSE:GMED)

Trexquant Investment LP bought a new position in Globus Medical, Inc. (NYSE:GMED - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 142,321 shares of the medical device company's stock, valued at approximately $11,771,000. Trexquant Investment LP owned 0.10% of Globus Medical as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Globus Medical during the 4th quarter worth approximately $27,000. Quarry LP grew its holdings in Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company's stock worth $35,000 after acquiring an additional 433 shares during the period. UMB Bank n.a. raised its position in Globus Medical by 60.2% in the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock worth $45,000 after acquiring an additional 206 shares in the last quarter. V Square Quantitative Management LLC lifted 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 valued at $48,000 after acquiring an additional 197 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in shares of Globus Medical by 24.7% during 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 in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Insider Activity at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the business's stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 18.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Canaccord Genuity Group boosted their price target on Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Roth Mkm raised their price objective on Globus Medical from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, December 17th. Barclays boosted their target price on Globus Medical from $100.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Finally, Needham & Company LLC restated 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $97.09.

Globus Medical Trading Up 0.8 %

Shares of Globus Medical stock traded up $0.59 during trading hours on Monday, reaching $69.42. The stock had a trading volume of 732,494 shares, compared to its average volume of 1,028,820. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 92.11, a P/E/G ratio of 1.61 and a beta of 1.28. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93. The firm has a 50 day simple moving average of $80.17 and a two-hundred day simple moving average of $80.10.

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 the consensus estimate of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The company had revenue of $657.29 million during the quarter, compared to the consensus estimate of $646.19 million. Sell-side analysts forecast that Globus Medical, Inc. will post 3.44 EPS 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.