Globus Medical, Inc. (NYSE:GMED) Shares Bought by Lightrock Netherlands B.V.

Lightrock Netherlands B.V. raised its stake in Globus Medical, Inc. (NYSE:GMED - Free Report) by 57.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 159,850 shares of the medical device company's stock after purchasing an additional 58,006 shares during the quarter. Globus Medical comprises approximately 3.1% of Lightrock Netherlands B.V.'s holdings, making the stock its 11th biggest holding. Lightrock Netherlands B.V. owned approximately 0.12% of Globus Medical worth $11,721,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. increased its position in shares of Globus Medical by 255.9% in the 4th quarter. American Century Companies Inc. now owns 103,833 shares of the medical device company's stock worth $8,588,000 after purchasing an additional 74,659 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new stake in Globus Medical during the first quarter valued at approximately $587,000. State of Alaska Department of Revenue increased its holdings in shares of Globus Medical by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 13,320 shares of the medical device company's stock valued at $975,000 after buying an additional 350 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Globus Medical during the 4th quarter valued at $1,190,000. Finally, Cetera Investment Advisers boosted its stake 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 acquiring an additional 1,008 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Globus Medical Trading Down 2.4%

Shares of GMED stock opened at $59.10 on Friday. Globus Medical, Inc. has a 1 year low of $54.48 and a 1 year high of $94.93. The stock has a market cap of $8.00 billion, a P/E ratio of 44.10, a price-to-earnings-growth ratio of 1.72 and a beta of 1.19. The stock has a 50 day simple moving average of $61.38 and a 200 day simple moving average of $73.84.

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

Globus Medical declared that its board has approved a stock buyback program on Thursday, May 15th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the medical device company to reacquire up to 6.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently commented on GMED shares. Wall Street Zen upgraded shares of Globus Medical from a "hold" rating to a "buy" rating in a report on Monday, May 12th. JMP Securities reaffirmed a "market perform" rating on shares of Globus Medical in a report on Tuesday, May 27th. Piper Sandler decreased their price objective on shares of Globus Medical from $100.00 to $80.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Barclays reissued an "overweight" rating on shares of Globus Medical in a report on Tuesday, June 10th. Finally, BTIG Research reissued a "neutral" rating on shares of Globus Medical in a report on Tuesday, May 27th. Five 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 currently has an average rating of "Moderate Buy" and a consensus price target 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.

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