5,408 Shares in Globus Medical, Inc. (NYSE:GMED) Bought by MRA Advisory Group

MRA Advisory Group acquired a new position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,408 shares of the medical device company's stock, valued at approximately $396,000.

Other large investors have also recently modified their holdings of the company. First Horizon Advisors Inc. grew its position 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 acquiring an additional 132 shares during the last quarter. US Bancorp DE grew its position 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 valued at $356,000 after acquiring an additional 135 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Globus Medical by 2.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,787 shares of the medical device company's stock worth $479,000 after purchasing an additional 150 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Globus Medical by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company's stock worth $288,000 after purchasing an additional 175 shares during the last quarter. Finally, Mather Group LLC. grew its holdings 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 worth $112,000 after purchasing an additional 190 shares during the last quarter. Institutional investors own 95.16% of the company's stock.

Globus Medical Trading Down 0.3%

Shares of NYSE GMED opened at $59.45 on Friday. Globus Medical, Inc. has a 12-month low of $54.48 and a 12-month high of $94.93. The stock has a market capitalization of $8.05 billion, a PE ratio of 79.27, a price-to-earnings-growth ratio of 1.61 and a beta of 1.32. The stock's fifty day simple moving average is $66.68 and its two-hundred day simple moving average is $77.42.

Globus Medical (NYSE:GMED - Get Free Report) last released 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). Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The firm had revenue of $598.12 million during the quarter, compared to the consensus estimate of $629.74 million. During the same quarter in the prior year, the business posted $0.72 earnings per share. The firm's quarterly revenue was down 1.4% on a year-over-year basis. On average, equities analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Globus Medical announced that its board has authorized a share buyback program on Thursday, May 15th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the medical device company to buy up to 6.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

GMED has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on shares of Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Wells Fargo & Company dropped their price objective 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. JMP Securities reissued a "market perform" rating on shares of Globus Medical in a research note on Tuesday, May 27th. Truist Financial dropped their price objective on Globus Medical from $80.00 to $68.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. Finally, Wall Street Zen raised Globus Medical from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.00.

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.

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