ArrowMark Colorado Holdings LLC Has $48.60 Million Position in Globus Medical, Inc. (NYSE:GMED)

ArrowMark Colorado Holdings LLC cut its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 587,626 shares of the medical device company's stock after selling 26,669 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 0.43% of Globus Medical worth $48,603,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in Globus Medical in the fourth quarter valued at approximately $27,000. UMB Bank n.a. increased its position in Globus Medical by 60.2% in the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock worth $45,000 after buying an additional 206 shares during the period. V Square Quantitative Management LLC increased its position in Globus Medical by 52.0% in the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company's stock worth $48,000 after buying an additional 197 shares during the period. First Horizon Advisors Inc. lifted its stake in Globus Medical by 24.7% in the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company's stock valued at $55,000 after buying an additional 132 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in shares of Globus Medical by 47.8% during the fourth quarter. Huntington National Bank now owns 958 shares of the medical device company's stock valued at $79,000 after acquiring an additional 310 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Trading Up 0.0 %

Globus Medical stock traded up $0.03 on Tuesday, reaching $70.53. 1,138,252 shares of the stock were exchanged, compared to its average volume of 1,045,335. Globus Medical, Inc. has a twelve month low of $50.31 and a twelve month high of $94.93. The stock has a market cap of $9.70 billion, a PE ratio of 94.04, a PEG ratio of 1.61 and a beta of 1.32. The firm has a fifty day moving average price of $73.14 and a two-hundred day moving average price of $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 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $646.19 million. Equities analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Truist Financial decreased their price objective on Globus Medical from $82.00 to $80.00 and set a "hold" rating for the company in a report on Friday, April 11th. Barclays lifted their target price on Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Bank of America raised Globus Medical from an "underperform" rating to a "neutral" rating and raised their price target for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Finally, Canaccord Genuity Group upped their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $96.91.

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.