By otakuyassine3@gmail.com 
Wells Fargo & Company MN lessened its holdings in Globus Medical, Inc. (NYSE:GMED – Free Report) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 216,411 shares of the medical device company’s stock after selling 11,165 shares during the period. Wells Fargo & Company MN owned 0.16% of Globus Medical worth $17,899,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new position in shares of Globus Medical in the fourth quarter valued at $27,000. UMB Bank n.a. grew its stake in Globus Medical by 60.2% in the 4th 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 during the last quarter. V Square Quantitative Management LLC grew its stake in Globus Medical by 52.0% in the 4th 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 last quarter. First Horizon Advisors Inc. raised its holdings in Globus Medical by 24.7% in the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock valued at $55,000 after acquiring an additional 132 shares during the period. Finally, Huntington National Bank lifted its position in Globus Medical by 47.8% during the fourth quarter. Huntington National Bank now owns 958 shares of the medical device company’s stock worth $79,000 after acquiring an additional 310 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on GMED shares. Canaccord Genuity Group upped their target price on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Barclays increased their price objective on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Roth Mkm boosted their target price on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Stifel Nicolaus raised their price target on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, StockNews.com downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.91.
Get Our Latest Stock Analysis on Globus Medical
Globus Medical Price Performance
Shares of NYSE:GMED opened at $72.75 on Monday. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 97.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. The company’s 50 day simple moving average is $77.20 and its 200 day simple moving average is $80.07.
Globus Medical (NYSE:GMED – Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The company had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. As a group, analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.
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.
Further Reading
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