Schonfeld Strategic Advisors LLC Increases Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Schonfeld Strategic Advisors LLC increased its holdings in Globus Medical, Inc. (NYSE:GMED - Free Report) by 379.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,470 shares of the medical device company's stock after buying an additional 16,989 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Globus Medical were worth $1,776,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Globus Medical in the fourth quarter valued at about $27,000. UMB Bank n.a. lifted its stake in Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock valued at $45,000 after buying an additional 206 shares in the last quarter. V Square Quantitative Management LLC lifted 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 valued at $48,000 after buying an additional 197 shares in the last quarter. First Horizon Advisors Inc. grew its holdings 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 buying an additional 132 shares during the last quarter. Finally, Huntington National Bank increased its position in Globus Medical by 47.8% during the fourth quarter. Huntington National Bank now owns 958 shares of the medical device company's stock worth $79,000 after buying an additional 310 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GMED has been the topic of a number of analyst reports. Barclays increased 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. Bank of America upgraded shares of Globus Medical from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Wells Fargo & Company reduced their price objective 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. Stifel Nicolaus lifted their target price on shares of Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, StockNews.com lowered Globus Medical from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. 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, the company has an average rating of "Moderate Buy" and an average target price of $96.91.

Globus Medical Price Performance

Globus Medical stock opened at $70.49 on Tuesday. Globus Medical, Inc. has a 12 month low of $50.00 and a 12 month high of $94.93. The company has a market cap of $9.70 billion, a price-to-earnings ratio of 93.99, a price-to-earnings-growth ratio of 1.61 and a beta of 1.32. The stock's 50-day moving average is $73.14 and its 200-day moving average is $80.11.

Globus Medical (NYSE:GMED - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share 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. Research analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current 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.

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