13,476 Shares in Globus Medical, Inc. (NYSE:GMED) Acquired by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust acquired a new position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 13,476 shares of the medical device company's stock, valued at approximately $986,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GMED. Farther Finance Advisors LLC lifted its holdings in shares of Globus Medical by 145.5% in the first quarter. Farther Finance Advisors LLC now owns 405 shares of the medical device company's stock valued at $30,000 after purchasing an additional 240 shares in the last quarter. Parallel Advisors LLC increased its position in Globus Medical by 62.1% during the first quarter. Parallel Advisors LLC now owns 504 shares of the medical device company's stock worth $37,000 after purchasing an additional 193 shares during the last quarter. Versant Capital Management Inc increased its position in Globus Medical by 932.1% during the first quarter. Versant Capital Management Inc now owns 547 shares of the medical device company's stock worth $40,000 after purchasing an additional 494 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Globus Medical by 30.9% in the first quarter. First Horizon Advisors Inc. now owns 872 shares of the medical device company's stock worth $64,000 after acquiring an additional 206 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Globus Medical by 76.8% in the first quarter. UMB Bank n.a. now owns 969 shares of the medical device company's stock worth $71,000 after acquiring an additional 421 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GMED has been the topic of a number of research analyst reports. Barclays reiterated an "overweight" rating on shares of Globus Medical in a research note on Tuesday, June 10th. Wall Street Zen upgraded shares of Globus Medical from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. BTIG Research restated a "neutral" rating on shares of Globus Medical in a research report on Tuesday, May 27th. Truist Financial reduced their price target on shares of Globus Medical from $80.00 to $68.00 and set a "hold" rating on the stock in a research report on Monday, May 12th. Finally, Needham & Company LLC restated a "hold" rating on shares of Globus Medical in a research report on Tuesday, March 18th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $94.00.

Globus Medical Stock Down 1.2%

Globus Medical stock traded down $0.71 during trading hours on Friday, hitting $57.09. 1,407,031 shares of the company traded hands, compared to its average volume of 1,159,342. The firm's 50-day simple moving average is $59.88 and its two-hundred day simple moving average is $72.80. The firm has a market cap of $7.73 billion, a P/E ratio of 42.60, a P/E/G ratio of 1.66 and a beta of 1.19. Globus Medical, Inc. has a 1-year low of $54.48 and a 1-year high of $94.93.

Globus Medical (NYSE:GMED - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The medical device company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.06). Globus Medical had a return on equity of 10.52% and a net margin of 7.39%. The business had revenue of $598.12 million during the quarter, compared to analyst estimates of $629.74 million. During the same period in the prior year, the firm earned $0.72 EPS. The business's revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Globus Medical declared that its Board of Directors has approved a stock repurchase program on Thursday, May 15th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the medical device company to purchase up to 6.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Globus Medical Company 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.