First Trust Advisors LP Has $8.04 Million Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

First Trust Advisors LP lifted its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 24.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 97,193 shares of the medical device company's stock after acquiring an additional 19,161 shares during the quarter. First Trust Advisors LP owned about 0.07% of Globus Medical worth $8,039,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in Globus Medical during the fourth quarter valued at approximately $27,000. UMB Bank n.a. grew its stake 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 valued at $45,000 after buying an additional 206 shares during the last quarter. V Square Quantitative Management LLC raised its holdings 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 worth $48,000 after acquiring an additional 197 shares during the period. First Horizon Advisors Inc. lifted its position 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 worth $55,000 after acquiring an additional 132 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in Globus Medical by 47.8% during the fourth 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. Institutional investors and hedge funds own 95.16% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on GMED. Canaccord Genuity Group lifted their price objective on Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Bank of America upgraded Globus Medical from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Barclays raised their price objective on shares of Globus Medical from $100.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Needham & Company LLC reissued a "hold" rating on shares of Globus Medical in a report on Tuesday, March 18th. Finally, Truist Financial decreased their price target on shares of Globus Medical from $82.00 to $80.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.91.

Globus Medical Trading Up 1.1 %

GMED stock traded up $0.79 during trading on Friday, hitting $71.90. The company had a trading volume of 1,182,627 shares, compared to its average volume of 1,045,389. The company has a fifty day moving average price of $73.33 and a two-hundred day moving average price of $80.04. Globus Medical, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $94.93. The company has a market cap of $9.89 billion, a P/E ratio of 95.87, a P/E/G ratio of 1.61 and a beta of 1.32.

Globus Medical (NYSE:GMED - Get Free Report) last issued its earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The company had revenue of $657.29 million for the quarter, compared to the consensus estimate of $646.19 million. On average, analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

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.