Sculptor Capital LP Has $171.86 Million Position in Globus Medical, Inc. (NYSE:GMED)

Sculptor Capital LP lessened its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 6.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,077,838 shares of the medical device company's stock after selling 132,900 shares during the period. Globus Medical comprises approximately 2.3% of Sculptor Capital LP's investment portfolio, making the stock its 8th biggest holding. Sculptor Capital LP owned approximately 1.53% of Globus Medical worth $171,858,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. American Century Companies Inc. boosted its holdings in Globus Medical by 255.9% in the fourth quarter. American Century Companies Inc. now owns 103,833 shares of the medical device company's stock valued at $8,588,000 after purchasing an additional 74,659 shares during the last quarter. Oak Thistle LLC purchased a new stake in Globus Medical in the fourth quarter valued at $376,000. bLong Financial LLC acquired a new stake in Globus Medical in the 4th quarter valued at approximately $397,000. HB Wealth Management LLC acquired a new position in shares of Globus Medical in the fourth quarter worth $301,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Globus Medical in the fourth quarter worth $1,190,000. Institutional investors own 95.16% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Globus Medical from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Piper Sandler reduced their price objective on shares of Globus Medical from $100.00 to $80.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Truist Financial cut their price target on shares of Globus Medical from $80.00 to $68.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research note on Tuesday, March 18th. Finally, Wells Fargo & Company decreased their target price 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. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $94.00.

Globus Medical Trading Up 1.0%

Shares of NYSE GMED traded up $0.60 during midday trading on Tuesday, reaching $61.65. The company's stock had a trading volume of 1,998,707 shares, compared to its average volume of 1,094,301. The company has a 50 day moving average price of $70.27 and a 200 day moving average price of $79.31. Globus Medical, Inc. has a one year low of $54.48 and a one year high of $94.93. The company has a market cap of $8.48 billion, a price-to-earnings ratio of 82.20, a price-to-earnings-growth ratio of 1.61 and a beta of 1.32.

Globus Medical (NYSE:GMED - Get Free Report) last posted its 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 business 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 business's revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. Research analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

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

About Globus Medical

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.