Fuller & Thaler Asset Management Inc. Has $67.29 Million Holdings in Globus Medical, Inc. $GMED

Key Points

• Fuller & Thaler Asset Management Inc. increased its holdings in Globus Medical by 27.1%, acquiring an additional 195,827 shares, bringing its total ownership to 919,228 shares worth approximately $67.3 million.
• Several institutional investors have also boosted their positions significantly, with increases of up to 1,007.7% in the first quarter, reflecting a strong interest in the medical device company.
• Analysts have set a consensus price target of $87.64 for Globus Medical, although recent reports saw price objectives cut by firms such as Piper Sandler and Morgan Stanley.

Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 27.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 919,228 shares of the medical device company's stock after buying an additional 195,827 shares during the period. Fuller & Thaler Asset Management Inc. owned approximately 0.67% of Globus Medical worth $67,287,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in Globus Medical by 145.5% in the 1st quarter. Farther Finance Advisors LLC now owns 405 shares of the medical device company's stock worth $30,000 after buying an additional 240 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Globus Medical by 1,007.7% during the first quarter. Larson Financial Group LLC now owns 432 shares of the medical device company's stock worth $32,000 after acquiring an additional 393 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of 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 acquiring an additional 193 shares in the last quarter. Versant Capital Management Inc boosted 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 valued at $40,000 after purchasing an additional 494 shares during the last quarter. Finally, Whittier Trust Co. grew its stake in Globus Medical by 46.5% in the first quarter. Whittier Trust Co. now owns 580 shares of the medical device company's stock valued at $42,000 after purchasing an additional 184 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Globus Medical Trading Up 3.4%

GMED traded up $2.0440 during midday trading on Friday, reaching $62.5440. The company's stock had a trading volume of 719,357 shares, compared to its average volume of 1,492,223. The company has a fifty day simple moving average of $57.30 and a 200 day simple moving average of $66.42. The stock has a market cap of $8.45 billion, a P/E ratio of 24.06, a PEG ratio of 1.69 and a beta of 1.20. Globus Medical, Inc. has a twelve month low of $51.79 and a twelve month high of $94.93.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The medical device company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.10. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. The firm had revenue of $745.34 million during the quarter, compared to the consensus estimate of $738.91 million. During the same period in the prior year, the firm earned $0.75 EPS. The business's revenue was up 18.4% on a year-over-year basis. Sell-side analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

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

Wall Street Analyst Weigh In

GMED has been the subject of several recent research reports. Wall Street Zen raised Globus Medical from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. BTIG Research restated a "neutral" rating on shares of Globus Medical in a report on Tuesday, May 27th. Wells Fargo & Company decreased their price objective on shares of Globus Medical from $76.00 to $66.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Truist Financial cut their target price on Globus Medical from $80.00 to $68.00 and set a "hold" rating on the stock in a report on Monday, May 12th. Finally, Needham & Company LLC restated a "hold" rating on shares of Globus Medical in a report on Monday, July 21st. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $87.64.

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.