Universal Beteiligungs und Servicegesellschaft mbH Makes New $16.76 Million Investment in Globus Medical, Inc. (NYSE:GMED)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Globus Medical, Inc. (NYSE:GMED - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 202,594 shares of the medical device company's stock, valued at approximately $16,757,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.15% of Globus Medical at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Globus Medical by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 10,863,834 shares of the medical device company's stock worth $898,548,000 after acquiring an additional 240,218 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Globus Medical by 7.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,804,330 shares of the medical device company's stock worth $231,946,000 after acquiring an additional 199,556 shares in the last quarter. Burgundy Asset Management Ltd. raised its stake in Globus Medical by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 2,618,108 shares of the medical device company's stock worth $216,544,000 after acquiring an additional 43,330 shares in the last quarter. Geode Capital Management LLC raised its stake in Globus Medical by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 1,897,212 shares of the medical device company's stock worth $156,969,000 after acquiring an additional 12,151 shares in the last quarter. Finally, Geneva Capital Management LLC raised its stake in Globus Medical by 13.6% during the 4th quarter. Geneva Capital Management LLC now owns 1,815,837 shares of the medical device company's stock worth $150,188,000 after acquiring an additional 217,707 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on GMED shares. JMP Securities reiterated a "market perform" rating on shares of Globus Medical in a research note on Tuesday, May 27th. Truist Financial dropped their price objective on shares of Globus Medical from $80.00 to $68.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. Wall Street Zen upgraded shares of Globus Medical from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Barclays lifted their price objective on shares of Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Finally, BTIG Research restated a "neutral" rating on shares of Globus Medical in a research note on Tuesday, May 27th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $94.00.

Globus Medical Trading Down 0.5%

Shares of NYSE:GMED traded down $0.31 during midday trading on Monday, hitting $58.87. The stock had a trading volume of 503,819 shares, compared to its average volume of 1,111,482. The company has a market capitalization of $7.97 billion, a PE ratio of 78.51, a P/E/G ratio of 1.61 and a beta of 1.32. The stock has a 50 day moving average price of $67.79 and a two-hundred day moving average price of $77.98. 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 issued its earnings results on Thursday, May 8th. The medical device company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.06). The firm had revenue of $598.12 million during the quarter, compared to analysts' expectations of $629.74 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The firm's revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 EPS. As a group, equities analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current year.

Globus Medical announced that its board has approved a share repurchase program 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 reacquire up to 6.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

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.