Axa S.A. Lowers Stake in Globus Medical, Inc. (NYSE:GMED)

AXA S.A. trimmed its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,423,195 shares of the medical device company's stock after selling 37,013 shares during the quarter. AXA S.A. owned approximately 1.05% of Globus Medical worth $117,712,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its holdings in Globus Medical by 24.7% during the fourth 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 in the last quarter. US Bancorp DE boosted its holdings in Globus Medical by 3.2% in the 4th quarter. US Bancorp DE now owns 4,305 shares of the medical device company's stock worth $356,000 after buying an additional 135 shares during the last quarter. Berry Wealth Group LP increased its stake in Globus Medical by 5.1% during the 4th quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company's stock worth $282,000 after buying an additional 164 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Globus Medical by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company's stock valued at $288,000 after acquiring an additional 175 shares during the last quarter. Finally, Mather Group LLC. lifted its position in shares of Globus Medical by 16.3% in the fourth quarter. Mather Group LLC. now owns 1,356 shares of the medical device company's stock valued at $112,000 after acquiring an additional 190 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GMED has been the subject of several recent research reports. Stifel Nicolaus increased their price objective on Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Canaccord Genuity Group boosted their price target on shares of Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Bank of America raised shares of 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 note on Thursday, January 9th. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research report on Tuesday, March 18th. Finally, StockNews.com downgraded Globus Medical from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $96.91.

Globus Medical Stock Up 0.0 %

NYSE GMED traded up $0.03 during trading hours on Tuesday, hitting $70.53. 1,138,252 shares of the company were exchanged, compared to its average volume of 1,045,335. The company has a 50 day moving average of $73.14 and a two-hundred day moving average of $80.11. The firm has a market cap of $9.70 billion, a price-to-earnings ratio of 94.04, a PEG ratio of 1.61 and a beta of 1.32. Globus Medical, Inc. has a 52-week low of $50.31 and a 52-week high of $94.93.

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, beating analysts' consensus estimates of $0.74 by $0.10. The company had revenue of $657.29 million for the quarter, compared to the consensus estimate of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. On average, equities research analysts predict that Globus Medical, Inc. will post 3.44 EPS 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.