Barclays PLC Lowers Holdings in Globus Medical, Inc. (NYSE:GMED)

Barclays PLC lessened its holdings in Globus Medical, Inc. (NYSE:GMED - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,683 shares of the medical device company's stock after selling 5,918 shares during the period. Barclays PLC owned about 0.06% of Globus Medical worth $7,169,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of GMED. Norges Bank bought a new position in Globus Medical in the fourth quarter valued at about $117,102,000. Raymond James Financial Inc. bought a new position in Globus Medical in the 4th quarter valued at approximately $58,405,000. Lord Abbett & CO. LLC acquired a new stake in Globus Medical during the 3rd quarter worth approximately $37,948,000. Kathmere Capital Management LLC acquired a new position in shares of Globus Medical during the fourth quarter worth $23,091,000. Finally, Vanguard Group Inc. increased its holdings in Globus Medical by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 10,863,834 shares of the medical device company's stock valued at $898,548,000 after purchasing an additional 240,218 shares during the period. Institutional investors and hedge funds own 95.16% of the company's stock.

Globus Medical Stock Down 0.7 %

Globus Medical stock traded down $0.52 during trading on Wednesday, hitting $71.81. The stock had a trading volume of 1,138,583 shares, compared to its average volume of 1,044,250. The stock's 50 day moving average is $73.66 and its two-hundred day moving average is $80.06. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of 95.75, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28.

Globus Medical (NYSE:GMED - Get Free Report) last posted its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share 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 firm had revenue of $657.29 million during the quarter, compared to the consensus estimate of $646.19 million. As a group, equities research analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GMED. Canaccord Genuity Group upped their price target on shares of Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Stifel Nicolaus raised their price target 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. Truist Financial dropped their price objective on shares of Globus Medical from $82.00 to $80.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Bank of America upgraded 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 research note on Thursday, January 9th. Finally, Wells Fargo & Company dropped their price target on Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.