Gotham Asset Management LLC Makes New Investment in Globus Medical, Inc. (NYSE:GMED)

Gotham Asset Management LLC 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 SEC. The firm bought 34,167 shares of the medical device company's stock, valued at approximately $2,826,000.

Several other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Globus Medical during the 4th quarter valued at about $27,000. UMB Bank n.a. increased its position in Globus Medical by 60.2% during 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 increased its position in 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 purchasing an additional 197 shares during the period. First Horizon Advisors Inc. increased its position in 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 purchasing an additional 132 shares during the period. Finally, Huntington National Bank grew its position in shares of Globus Medical by 47.8% in the 4th quarter. Huntington National Bank now owns 958 shares of the medical device company's stock worth $79,000 after buying an additional 310 shares during the last quarter. Institutional investors own 95.16% of the company's stock.

Globus Medical Trading Down 0.3%

Shares of Globus Medical stock traded down $0.19 during trading on Monday, reaching $61.06. The company's stock had a trading volume of 1,193,009 shares, compared to its average volume of 1,090,684. The company has a 50-day moving average price of $70.47 and a two-hundred day moving average price of $79.41. The firm has a market cap of $8.40 billion, a PE ratio of 81.41, a P/E/G ratio of 1.61 and a beta of 1.32. Globus Medical, Inc. has a fifty-two week low of $54.48 and a fifty-two week high of $94.93.

Globus Medical (NYSE:GMED - Get Free Report) last announced its earnings results on Thursday, May 8th. The medical device company reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.06). The business had revenue of $598.12 million during the quarter, compared to analyst estimates of $629.74 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The business's revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 earnings per share. On average, analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Globus Medical declared that its board has authorized a share repurchase plan on Thursday, May 15th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the medical device company to repurchase up to 6.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GMED shares. Stifel Nicolaus lifted their price objective 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. Piper Sandler cut their price objective on shares of Globus Medical from $100.00 to $80.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Truist Financial cut their price objective on shares of Globus Medical from $80.00 to $68.00 and set a "hold" rating on the stock in a research report on Monday, May 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research report on Tuesday, March 18th. Finally, Wells Fargo & Company cut their price objective on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, Globus Medical has a consensus rating of "Moderate Buy" and an average target price of $94.00.

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.