Freestone Grove Partners LP Invests $6.29 Million in Globus Medical, Inc. (NYSE:GMED)

Freestone Grove Partners LP purchased a new stake in Globus Medical, Inc. (NYSE:GMED - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 76,053 shares of the medical device company's stock, valued at approximately $6,290,000. Freestone Grove Partners LP owned 0.06% of Globus Medical as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. American Century Companies Inc. lifted its stake in Globus Medical by 255.9% in the 4th quarter. American Century Companies Inc. now owns 103,833 shares of the medical device company's stock valued at $8,588,000 after acquiring an additional 74,659 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Globus Medical during the fourth quarter worth approximately $376,000. bLong Financial LLC bought a new position in Globus Medical during the 4th quarter worth $397,000. Kathmere Capital Management LLC bought a new stake in shares of Globus Medical in the fourth quarter valued at about $23,091,000. Finally, HB Wealth Management LLC bought a new position in Globus Medical during the fourth quarter worth about $301,000. Institutional investors own 95.16% of the company's stock.

Wall Street Analyst Weigh In

GMED has been the topic of several recent research reports. Stifel Nicolaus raised their target price on shares of Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Barclays increased their target price on Globus Medical from $100.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research report on Tuesday, March 18th. Bank of America raised shares of Globus Medical from an "underperform" rating to a "neutral" rating and raised their target price for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Finally, StockNews.com lowered shares of Globus Medical from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Four equities 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $96.91.

Globus Medical Stock Up 0.0 %

Shares of NYSE GMED traded up $0.03 during trading on Tuesday, reaching $70.53. The company had a trading volume of 1,138,252 shares, compared to its average volume of 1,048,166. Globus Medical, Inc. has a 12 month low of $50.00 and a 12 month high of $94.93. The stock has a market cap of $9.70 billion, a P/E ratio of 94.04, a PEG ratio of 1.61 and a beta of 1.32. The company's fifty day moving average price is $73.14 and its 200-day moving average price is $80.11.

Globus Medical (NYSE:GMED - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $646.19 million. As a group, equities analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

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.