Price T Rowe Associates Inc. MD Decreases Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Price T Rowe Associates Inc. MD lowered its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,123,132 shares of the medical device company's stock after selling 9,901 shares during the period. Price T Rowe Associates Inc. MD owned about 0.82% of Globus Medical worth $92,895,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new stake in Globus Medical in the 4th quarter worth $27,000. UMB Bank n.a. grew its stake in shares of Globus Medical by 60.2% in the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock worth $45,000 after purchasing an additional 206 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company's stock valued at $48,000 after purchasing an additional 197 shares during the period. First Horizon Advisors Inc. raised 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 valued at $55,000 after purchasing an additional 132 shares during the last quarter. Finally, Huntington National Bank raised its position 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 purchasing an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Globus Medical Price Performance

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

Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The firm had revenue of $657.29 million for the quarter, compared to analysts' expectations of $646.19 million. As a group, analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GMED shares. Stifel Nicolaus boosted their target price on Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Bank of America upgraded shares of Globus Medical from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Wells Fargo & Company cut their target price on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Barclays increased 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, Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research report on Tuesday, March 18th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $96.91.

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.