60,348 Shares in Globus Medical, Inc. (NYSE:GMED) Bought by LMR Partners LLP

LMR Partners LLP bought a new stake in Globus Medical, Inc. (NYSE:GMED - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 60,348 shares of the medical device company's stock, valued at approximately $4,991,000.

Other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in Globus Medical in the 4th quarter valued at about $27,000. UMB Bank n.a. boosted its position in Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock worth $45,000 after acquiring an additional 206 shares during the last quarter. V Square Quantitative Management LLC grew its stake 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. raised its holdings in Globus Medical by 24.7% in the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company's stock valued at $55,000 after acquiring an additional 132 shares during the last quarter. Finally, Huntington National Bank raised its holdings in Globus Medical by 47.8% in the 4th 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 last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Globus Medical Price Performance

Shares of GMED traded up $3.47 during trading hours on Friday, hitting $61.29. 4,007,008 shares of the company were exchanged, compared to its average volume of 1,087,907. The firm has a fifty day simple moving average of $70.72 and a 200-day simple moving average of $79.43. The company has a market capitalization of $8.43 billion, a PE ratio of 81.72, a PEG ratio of 1.61 and a beta of 1.32. Globus Medical, Inc. has a one year low of $54.48 and a one year high of $94.93.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The medical device company reported $0.68 EPS 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 EPS. Sell-side analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current year.

Globus Medical declared that its board has approved a share repurchase program on Thursday, May 15th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the medical device company to buy up to 6.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GMED shares. Barclays raised their target price on shares of Globus Medical from $100.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Needham & Company LLC restated a "hold" rating on shares of Globus Medical in a report on Tuesday, March 18th. Piper Sandler reduced 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. Wells Fargo & Company dropped their price target on Globus Medical from $95.00 to $93.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Finally, Stifel Nicolaus raised their price objective on Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.

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.