Globus Medical, Inc. (NYSE:GMED) Shares Acquired by Stifel Financial Corp

Stifel Financial Corp grew its position in Globus Medical, Inc. (NYSE:GMED - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,634 shares of the medical device company's stock after acquiring an additional 4,799 shares during the period. Stifel Financial Corp's holdings in Globus Medical were worth $4,767,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in Globus Medical by 180.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,483 shares of the medical device company's stock worth $536,000 after acquiring an additional 4,175 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Globus Medical by 9.8% in the 4th quarter. MetLife Investment Management LLC now owns 64,082 shares of the medical device company's stock valued at $5,300,000 after purchasing an additional 5,708 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Globus Medical by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 506,122 shares of the medical device company's stock valued at $41,862,000 after purchasing an additional 35,796 shares during the period. First Trust Advisors LP boosted its holdings in Globus Medical by 24.6% during the fourth quarter. First Trust Advisors LP now owns 97,193 shares of the medical device company's stock worth $8,039,000 after buying an additional 19,161 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Globus Medical during the fourth quarter worth about $943,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Price Performance

GMED stock traded up $0.79 during midday trading on Friday, hitting $71.90. The stock had a trading volume of 1,182,627 shares, compared to its average volume of 1,045,322. The company's 50-day moving average price is $73.33 and its 200 day moving average price is $80.08. The firm has a market cap of $9.89 billion, a PE ratio of 95.87, a price-to-earnings-growth ratio of 1.61 and a beta of 1.32. Globus Medical, Inc. has a 12-month low of $50.00 and a 12-month high of $94.93.

Globus Medical (NYSE:GMED - Get Free Report) last released 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 return on equity of 10.83% and a net margin of 4.09%. The firm had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. As a group, sell-side analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GMED shares. Bank of America raised Globus Medical from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. Barclays boosted their target price on Globus Medical from $100.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. StockNews.com cut Globus Medical from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research report on Tuesday, March 18th. Finally, Canaccord Genuity Group increased their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Globus Medical currently has an average rating of "Moderate Buy" and a consensus target price of $96.91.

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.