Wellington Management Group LLP Has $206.49 Million Position in Globus Medical, Inc. (NYSE:GMED)

Wellington Management Group LLP lowered its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 3.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,496,599 shares of the medical device company's stock after selling 81,891 shares during the quarter. Wellington Management Group LLP owned about 1.82% of Globus Medical worth $206,494,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GMED. SBI Securities Co. Ltd. bought a new stake in Globus Medical in the 4th quarter valued at about $27,000. Quarry LP raised its position in shares of Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company's stock valued at $35,000 after buying an additional 433 shares in the last quarter. UMB Bank n.a. raised its position in shares of Globus Medical by 60.2% in the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock valued at $45,000 after buying an additional 206 shares in the last quarter. V Square Quantitative Management LLC boosted its stake 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 valued at $48,000 after buying an additional 197 shares during the period. Finally, First Horizon Advisors Inc. grew its position in Globus Medical by 24.7% during the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company's stock worth $55,000 after buying an additional 132 shares in the last quarter. Institutional investors own 95.16% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GMED. BTIG Research upped their target price on Globus Medical from $87.00 to $91.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. Bank of America raised shares of Globus Medical from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Stifel Nicolaus raised their target price on shares of Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a report on Friday, February 21st. StockNews.com downgraded shares of Globus Medical from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Finally, Truist Financial decreased their price objective on shares of Globus Medical from $90.00 to $82.00 and set a "hold" rating on the stock in a research note on Tuesday, March 18th. Four research 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, Globus Medical currently has an average rating of "Moderate Buy" and a consensus target price of $97.09.

Globus Medical Stock Up 2.8 %

Shares of NYSE GMED traded up $1.91 during midday trading on Monday, reaching $70.74. 1,844,150 shares of the company were exchanged, compared to its average volume of 1,033,132. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The stock has a market cap of $9.73 billion, a P/E ratio of 94.32, a PEG ratio of 1.61 and a beta of 1.28. The stock's 50-day moving average price is $79.74 and its 200-day moving average price is $80.10.

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 for the quarter, topping analysts' consensus estimates of $0.74 by $0.10. The business had revenue of $657.29 million for 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, equities research analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.

Insider Activity

In other news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 18.54% of the stock is currently owned by insiders.

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.