MetLife Investment Management LLC Acquires 5,708 Shares of Globus Medical, Inc. (NYSE:GMED)

MetLife Investment Management LLC increased its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 9.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,082 shares of the medical device company's stock after purchasing an additional 5,708 shares during the quarter. MetLife Investment Management LLC's holdings in Globus Medical were worth $5,300,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GMED. First Horizon Advisors Inc. lifted its stake in shares of 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. US Bancorp DE raised its position in Globus Medical by 3.2% in the fourth quarter. US Bancorp DE now owns 4,305 shares of the medical device company's stock valued at $356,000 after purchasing an additional 135 shares during the last quarter. Berry Wealth Group LP raised its position in Globus Medical by 5.1% in the fourth quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company's stock valued at $282,000 after purchasing an additional 164 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Globus Medical by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company's stock valued at $288,000 after purchasing an additional 175 shares in the last quarter. Finally, Mather Group LLC. grew its holdings in Globus Medical by 16.3% during the 4th quarter. Mather Group LLC. now owns 1,356 shares of the medical device company's stock worth $112,000 after acquiring an additional 190 shares during the last quarter. Institutional investors own 95.16% of the company's stock.

Globus Medical Trading Down 0.1 %

NYSE GMED traded down $0.08 during mid-day trading on Tuesday, hitting $72.55. The company's stock had a trading volume of 103,702 shares, compared to its average volume of 1,036,890. The company's 50 day simple moving average is $74.07 and its 200 day simple moving average is $80.17. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93. The firm has a market capitalization of $9.98 billion, a price-to-earnings ratio of 96.67, a PEG ratio of 1.61 and a beta of 1.28.

Globus Medical (NYSE:GMED - Get Free Report) last posted its earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $646.19 million. As a group, research analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GMED shares. Barclays increased their price target on Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Wells Fargo & Company dropped their target price on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research report on Tuesday, March 18th. 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 report on Friday, January 10th. Finally, Bank of America upgraded Globus Medical from an "underperform" rating to a "neutral" rating and upped their target price for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Four equities research 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 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.