Oxford Asset Management LLP Purchases New Stake in Globus Medical, Inc. (NYSE:GMED)

Oxford Asset Management LLP bought a new stake in Globus Medical, Inc. (NYSE:GMED - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 11,731 shares of the medical device company's stock, valued at approximately $970,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GMED. First Horizon Advisors Inc. boosted its stake 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 worth $55,000 after purchasing an additional 132 shares in the last quarter. US Bancorp DE increased its holdings 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 buying an additional 135 shares in the last quarter. Berry Wealth Group LP grew its position in shares of 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 period. CIBC Asset Management Inc grew its position in shares of Globus Medical by 5.3% in 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 during the period. Finally, Mather Group LLC. grew its position in shares of Globus Medical by 16.3% in the fourth quarter. Mather Group LLC. now owns 1,356 shares of the medical device company's stock valued at $112,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GMED. Canaccord Genuity Group boosted their price target on shares of Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. StockNews.com lowered shares of Globus Medical from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Barclays raised their target price on shares of Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Bank of America raised shares of Globus Medical from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Finally, Stifel Nicolaus lifted their target price on shares of Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, Globus Medical has a consensus rating of "Moderate Buy" and a consensus price target of $96.91.

Globus Medical Stock Down 0.6 %

Shares of GMED traded down $0.42 during trading hours on Thursday, reaching $71.36. 203,367 shares of the company traded hands, compared to its average volume of 1,040,997. The stock has a market capitalization of $9.81 billion, a PE ratio of 95.23, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The stock has a fifty day simple moving average of $73.66 and a 200 day simple moving average of $80.06.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.10. The firm had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. Research 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.