Nomura Holdings Inc. Acquires New Holdings in Globus Medical, Inc. (NYSE:GMED)

Nomura Holdings Inc. acquired a new position in Globus Medical, Inc. (NYSE:GMED - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,182 shares of the medical device company's stock, valued at approximately $1,669,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Globus Medical in the fourth quarter worth about $27,000. UMB Bank n.a. boosted its holdings in Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock worth $45,000 after buying an additional 206 shares during the period. V Square Quantitative Management LLC grew its stake in Globus Medical by 52.0% in the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company's stock valued at $48,000 after buying an additional 197 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Globus Medical by 24.7% during 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 period. Finally, Huntington National Bank raised its holdings in Globus Medical by 47.8% during the 4th quarter. Huntington National Bank now owns 958 shares of the medical device company's stock valued at $79,000 after acquiring an additional 310 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GMED shares. Wall Street Zen raised Globus Medical from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Piper Sandler cut their target price on Globus Medical from $100.00 to $80.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Barclays lifted their target price on Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Wells Fargo & Company lowered their price target on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Finally, Truist Financial cut their price objective on shares of Globus Medical from $80.00 to $68.00 and set a "hold" rating for the company in a research report on Monday, May 12th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $94.00.

Globus Medical Price Performance

GMED stock traded down $0.37 during mid-day trading on Thursday, hitting $58.91. 897,566 shares of the stock were exchanged, compared to its average volume of 1,099,545. The business has a fifty day moving average price of $69.87 and a 200 day moving average price of $79.05. 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 $8.10 billion, a price-to-earnings ratio of 78.47, a PEG ratio of 1.61 and a beta of 1.32.

Globus Medical (NYSE:GMED - Get Free Report) last released its 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 return on equity of 10.83% and a net margin of 4.09%. 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 previous year, the firm earned $0.72 EPS. The business's quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Globus Medical declared that its Board of Directors has initiated a share buyback plan on Thursday, May 15th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the medical device company to purchase up to 6.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are 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.