Globus Medical, Inc. (NYSE:GMED) Shares Bought by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lifted its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 73.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 452,274 shares of the medical device company's stock after acquiring an additional 191,700 shares during the quarter. Polar Asset Management Partners Inc. owned 0.33% of Globus Medical worth $37,408,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Franklin Resources Inc. acquired a new stake in Globus Medical in the 3rd quarter valued at about $3,833,000. Oak Thistle LLC acquired a new stake in shares of Globus Medical in the fourth quarter valued at approximately $376,000. Assenagon Asset Management S.A. increased its stake in shares of Globus Medical by 77.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 95,898 shares of the medical device company's stock worth $7,932,000 after purchasing an additional 41,875 shares in the last quarter. Kathmere Capital Management LLC acquired a new position in shares of Globus Medical during the 4th quarter worth approximately $23,091,000. Finally, Park Avenue Securities LLC raised its position in shares of Globus Medical by 26.4% during the 4th quarter. Park Avenue Securities LLC now owns 7,405 shares of the medical device company's stock worth $612,000 after purchasing an additional 1,546 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Wall Street Analyst Weigh In

GMED has been the topic of a number of analyst reports. Piper Sandler lowered their target price on Globus Medical from $100.00 to $80.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Stifel Nicolaus lifted their price objective on Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Truist Financial cut their target price on shares of Globus Medical from $80.00 to $68.00 and set a "hold" rating for the company in a research note on Monday. Barclays raised their price target 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. Finally, StockNews.com raised shares of Globus Medical from a "hold" rating to a "buy" rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $94.00.

Globus Medical Price Performance

GMED opened at $58.25 on Thursday. Globus Medical, Inc. has a 12 month low of $54.48 and a 12 month high of $94.93. The business has a 50-day moving average of $71.07 and a two-hundred day moving average of $79.54. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 77.67, a price-to-earnings-growth 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 (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.06). Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The company had revenue of $598.12 million during the quarter, compared to analysts' expectations of $629.74 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Globus Medical's revenue for the quarter was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

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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