Dimensional Fund Advisors LP Acquires 35,796 Shares of Globus Medical, Inc. (NYSE:GMED)

Dimensional Fund Advisors LP lifted its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 506,122 shares of the medical device company's stock after purchasing an additional 35,796 shares during the quarter. Dimensional Fund Advisors LP owned 0.37% of Globus Medical worth $41,862,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GMED. SBI Securities Co. Ltd. bought a new stake in shares of Globus Medical during the fourth quarter valued at about $27,000. UMB Bank n.a. increased its holdings 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 worth $45,000 after acquiring an additional 206 shares during the period. V Square Quantitative Management LLC lifted its stake in Globus Medical by 52.0% in the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company's stock worth $48,000 after purchasing an additional 197 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Globus Medical by 24.7% in 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% during the 4th quarter. Huntington National Bank now owns 958 shares of the medical device company's stock valued at $79,000 after purchasing an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GMED. Wells Fargo & Company dropped their price objective on Globus Medical from $95.00 to $93.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Stifel Nicolaus boosted their price objective on Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, February 21st. 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 research note on Thursday, January 9th. 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 note on Friday, January 10th. Finally, StockNews.com cut shares of Globus Medical from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Globus Medical presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.91.

Globus Medical Stock Up 1.7 %

Shares of NYSE GMED traded up $1.16 during midday trading on Wednesday, reaching $71.59. The company had a trading volume of 1,127,488 shares, compared to its average volume of 1,045,884. The stock has a market cap of $9.85 billion, a PE ratio of 95.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.32. Globus Medical, Inc. has a one year low of $50.31 and a one year high of $94.93. The firm's fifty day moving average price is $72.98 and its 200-day moving average price is $80.04.

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 for the quarter, beating the consensus estimate of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. 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 expect 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.