Globus Medical, Inc. (NYSE:GMED) Shares Sold by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL lowered its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 36.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,020 shares of the medical device company's stock after selling 59,661 shares during the period. Tudor Investment Corp ET AL owned approximately 0.08% of Globus Medical worth $8,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in GMED. Vanguard Group Inc. increased its position in shares of Globus Medical by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 10,863,834 shares of the medical device company's stock valued at $898,548,000 after acquiring an additional 240,218 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Globus Medical by 7.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,804,330 shares of the medical device company's stock worth $231,946,000 after purchasing an additional 199,556 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Globus Medical by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,897,212 shares of the medical device company's stock worth $156,969,000 after buying an additional 12,151 shares during the period. Geneva Capital Management LLC boosted its position in shares of Globus Medical by 13.6% during the fourth quarter. Geneva Capital Management LLC now owns 1,815,837 shares of the medical device company's stock worth $150,188,000 after buying an additional 217,707 shares during the period. Finally, Norges Bank acquired a new stake in shares of Globus Medical in the fourth quarter valued at $117,102,000. Institutional investors and hedge funds own 95.16% of the company's stock.

Globus Medical Price Performance

NYSE GMED traded up $0.79 on Friday, hitting $71.90. 1,182,627 shares of the company's stock were exchanged, compared to its average volume of 1,045,389. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of 95.87, a P/E/G ratio of 1.61 and a beta of 1.32. The firm's 50-day moving average price is $73.33 and its two-hundred day moving average price is $80.04. Globus Medical, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $94.93.

Globus Medical (NYSE:GMED - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The firm had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. On average, research analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GMED has been the subject of a number of research analyst reports. Needham & Company LLC restated a "hold" rating on shares of Globus Medical in a report on Tuesday, March 18th. Bank of America upgraded shares of Globus Medical from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Barclays upped their target price on shares of Globus Medical from $100.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Stifel Nicolaus boosted their price target 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, Wells Fargo & Company cut their price objective on Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a research 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $96.91.

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.