545,744 Shares in Globus Medical, Inc. (NYSE:GMED) Bought by Driehaus Capital Management LLC

Driehaus Capital Management LLC acquired a new stake in Globus Medical, Inc. (NYSE:GMED - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 545,744 shares of the medical device company's stock, valued at approximately $45,138,000. Driehaus Capital Management LLC owned about 0.40% of Globus Medical as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Crestline Management LP acquired a new position in shares of Globus Medical during the 4th quarter worth approximately $680,000. Cetera Investment Advisers boosted its holdings in shares of Globus Medical by 13.9% during the 4th quarter. Cetera Investment Advisers now owns 8,263 shares of the medical device company's stock worth $683,000 after purchasing an additional 1,008 shares during the last quarter. Centiva Capital LP boosted its holdings in shares of Globus Medical by 16.1% during the 4th quarter. Centiva Capital LP now owns 6,572 shares of the medical device company's stock worth $544,000 after purchasing an additional 911 shares during the last quarter. Blue Capital Inc. acquired a new stake in Globus Medical during the fourth quarter worth about $620,000. Finally, Captrust Financial Advisors lifted its stake in shares of Globus Medical by 15.7% in the 4th quarter. Captrust Financial Advisors now owns 23,735 shares of the medical device company's stock valued at $1,963,000 after purchasing an additional 3,215 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Price Performance

Shares of GMED traded down $0.31 during midday trading on Tuesday, reaching $58.70. 763,171 shares of the stock were exchanged, compared to its average volume of 1,062,745. The business's 50-day moving average price is $71.82 and its 200 day moving average price is $79.84. Globus Medical, Inc. has a twelve month low of $54.48 and a twelve month high of $94.93. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 78.27, a PEG ratio of 1.61 and a beta of 1.32.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The medical device company reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.06). The business had revenue of $598.12 million for the quarter, compared to analyst estimates of $629.74 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. As a group, equities research analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GMED. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a report on Tuesday, March 18th. Piper Sandler reduced their price target on shares of Globus Medical from $100.00 to $80.00 and set an "overweight" rating on the stock in a research report on Friday. Stifel Nicolaus raised their price objective 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. Wells Fargo & Company lowered their price objective on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Finally, Barclays increased their price objective on Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $94.00.

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.