Bridge City Capital LLC Has $9.67 Million Position in Globus Medical, Inc. (NYSE:GMED)

Bridge City Capital LLC grew its holdings in Globus Medical, Inc. (NYSE:GMED) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 116,875 shares of the medical device company’s stock after buying an additional 8,732 shares during the quarter. Globus Medical makes up 2.6% of Bridge City Capital LLC’s portfolio, making the stock its 3rd largest position. Bridge City Capital LLC’s holdings in Globus Medical were worth $9,667,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of Globus Medical during the 4th quarter valued at about $27,000. Quarry LP boosted its stake in Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after purchasing an additional 433 shares during the period. UMB Bank n.a. boosted 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 purchasing an additional 206 shares during the period. V Square Quantitative Management LLC lifted its position in shares of Globus Medical by 52.0% during the 4th 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. lifted 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 valued at $55,000 after acquiring an additional 132 shares during the period. Institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Performance

NYSE:GMED opened at $73.67 on Friday. The firm has a market capitalization of $10.13 billion, a price-to-earnings ratio of 98.22, a P/E/G ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 52-week low of $49.33 and a 52-week high of $94.93. The stock has a fifty day moving average of $83.61 and a 200 day moving average of $79.77.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $646.19 million. Equities analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 18.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GMED. Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. Wells Fargo & Company cut their target price on Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Barclays increased their price objective on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. StockNews.com downgraded Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.09.

About Globus Medical

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.