Grantham Mayo Van Otterloo & Co. LLC Lowers Position in Globus Medical, Inc. (NYSE:GMED)

Grantham Mayo Van Otterloo & Co. LLC decreased its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 25.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 500,484 shares of the medical device company’s stock after selling 172,994 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Globus Medical were worth $41,395,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. boosted its holdings in Globus Medical by 255.9% during the 4th quarter. American Century Companies Inc. now owns 103,833 shares of the medical device company’s stock worth $8,588,000 after acquiring an additional 74,659 shares during the last quarter. Oak Thistle LLC bought a new position in shares of Globus Medical during the fourth quarter valued at about $376,000. bLong Financial LLC purchased a new position in Globus Medical during the fourth quarter worth about $397,000. Kathmere Capital Management LLC bought a new stake in Globus Medical in the 4th quarter worth about $23,091,000. Finally, State Street Corp increased its stake in Globus Medical by 2.3% in the 3rd quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock valued at $255,450,000 after buying an additional 81,371 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. StockNews.com downgraded Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Barclays boosted 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. Truist Financial lowered their target price on Globus Medical from $90.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Finally, BTIG Research raised their price objective on shares of Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.09.

Globus Medical Stock Down 4.2 %

Shares of NYSE:GMED opened at $69.01 on Friday. The firm has a market capitalization of $9.49 billion, a PE ratio of 92.01, a P/E/G ratio of 1.61 and a beta of 1.19. The company has a 50-day moving average price of $80.17 and a two-hundred day moving average price of $79.95. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 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. Analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was 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 Securities & Exchange Commission, which is accessible through this hyperlink. 18.54% of the stock is currently owned by insiders.

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.