Northern Trust Corp Boosts Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Northern Trust Corp grew its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 19.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 914,332 shares of the medical device company's stock after buying an additional 151,454 shares during the quarter. Northern Trust Corp owned 0.67% of Globus Medical worth $75,624,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. American Century Companies Inc. boosted its stake in shares of Globus Medical by 255.9% in the 4th quarter. American Century Companies Inc. now owns 103,833 shares of the medical device company's stock worth $8,588,000 after buying an additional 74,659 shares during the last quarter. Oak Thistle LLC purchased a new position in shares of Globus Medical in the 4th quarter worth approximately $376,000. bLong Financial LLC purchased a new position in shares of Globus Medical in the 4th quarter worth approximately $397,000. Kathmere Capital Management LLC purchased a new position in shares of Globus Medical in the 4th quarter worth approximately $23,091,000. Finally, HB Wealth Management LLC purchased a new position in shares of Globus Medical in the 4th quarter worth approximately $301,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GMED shares. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research note on Tuesday, March 18th. Barclays upped their price objective 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 price objective on Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Piper Sandler dropped their price objective on Globus Medical from $100.00 to $80.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, Stifel Nicolaus upped their price objective on Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $95.09.

Globus Medical Stock Performance

GMED stock traded down $16.92 during midday trading on Friday, reaching $55.54. 10,890,340 shares of the company's stock traded hands, compared to its average volume of 1,054,624. The company has a 50-day moving average price of $72.21 and a two-hundred day moving average price of $79.94. Globus Medical, Inc. has a 52 week low of $54.48 and a 52 week high of $94.93. The firm has a market capitalization of $7.64 billion, a PE ratio of 74.05, 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 quarterly earnings results on Thursday, May 8th. The medical device company reported $0.68 earnings per share 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 the consensus estimate of $629.74 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. As a group, analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

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.