Axa S.A. boosted its position in Globus Medical, Inc. (NYSE:GMED – Free Report) by 0.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,523,960 shares of the medical device company’s stock after buying an additional 202 shares during the quarter. Axa S.A. owned approximately 1.52% of Globus Medical worth $86,317,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GMED. American Century Companies Inc. boosted its stake in Globus Medical by 91.2% in the first quarter. American Century Companies Inc. now owns 6,507 shares of the medical device company’s stock valued at $480,000 after acquiring an additional 3,104 shares during the period. PNC Financial Services Group Inc. boosted its stake in Globus Medical by 33.5% in the first quarter. PNC Financial Services Group Inc. now owns 15,578 shares of the medical device company’s stock valued at $1,150,000 after acquiring an additional 3,913 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Globus Medical by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,964 shares of the medical device company’s stock worth $2,137,000 after buying an additional 2,758 shares in the last quarter. BlackRock Inc. grew its holdings in Globus Medical by 0.7% in the 1st quarter. BlackRock Inc. now owns 7,347,858 shares of the medical device company’s stock worth $542,124,000 after buying an additional 48,913 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in Globus Medical by 8.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 42,930 shares of the medical device company’s stock worth $3,255,000 after buying an additional 3,211 shares in the last quarter. 80.54% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on GMED. Truist Financial reissued a “hold” rating and issued a $65.00 price objective on shares of Globus Medical in a report on Tuesday, September 5th. TheStreet lowered Globus Medical from a “b-” rating to a “c+” rating in a report on Thursday, August 31st. StockNews.com assumed coverage on Globus Medical in a research note on Thursday, August 17th. They set a “hold” rating for the company. Wells Fargo & Company increased their price target on Globus Medical from $61.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. Finally, Barclays increased their price target on Globus Medical from $75.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $69.75.
Globus Medical Stock Down 1.8 %
GMED opened at $50.85 on Friday. Globus Medical, Inc. has a 12-month low of $50.41 and a 12-month high of $80.04. The stock has a fifty day moving average of $57.53 and a 200-day moving average of $56.85. The firm has a market capitalization of $5.11 billion, a P/E ratio of 25.30, a PEG ratio of 1.94 and a beta of 1.08.
Globus Medical (NYSE:GMED – Get Free Report) last posted its earnings results on Thursday, August 3rd. The medical device company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. The firm had revenue of $291.62 million for the quarter, compared to the consensus estimate of $279.54 million. Globus Medical had a net margin of 18.63% and a return on equity of 12.13%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 earnings per share. On average, analysts expect that Globus Medical, Inc. will post 2.31 earnings per share 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. It 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 pain management solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.
- Five stocks we like better than Globus Medical
- What is the S&P/TSX Index?
- MarketBeat Week in Review – 9/4 – 9/8
- What Are Utility Stocks? An Overview of the Utilities Sector
- The Best 5 Small Cap AI Companies to Buy Now
- 3 Fintech Stocks With Good 2021 Prospects
- Miso Robotics Stock: Is an IPO Coming Soon?
Receive News & Ratings for Globus Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical and related companies with MarketBeat.com's FREE daily email newsletter.