First Trust Advisors LP Has $8.04 Million Position in Globus Medical, Inc. (NYSE:GMED)

First Trust Advisors LP raised its holdings in Globus Medical, Inc. (NYSE:GMED) by 24.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,193 shares of the medical device company’s stock after buying an additional 19,161 shares during the quarter. First Trust Advisors LP owned 0.07% of Globus Medical worth $8,039,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in Globus Medical in the fourth quarter worth about $27,000. UMB Bank n.a. raised its holdings in shares of Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after buying an additional 206 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after buying an additional 197 shares during the period. 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 valued at $55,000 after buying an additional 132 shares in the last quarter. Finally, Huntington National Bank boosted its stake in Globus Medical by 47.8% in the 4th quarter. Huntington National Bank now owns 958 shares of the medical device company’s stock valued at $79,000 after buying an additional 310 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Trading Down 0.4 %

Shares of NYSE GMED opened at $72.34 on Wednesday. The firm has a market capitalization of $9.95 billion, a PE ratio of 96.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. The firm’s 50-day moving average is $73.83 and its 200-day moving average is $80.12. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. The firm had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. As a group, equities research analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GMED has been the topic of several analyst reports. StockNews.com lowered shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Truist Financial cut their target price on shares of Globus Medical from $82.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Wells Fargo & Company decreased their price target 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. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Finally, Canaccord Genuity Group lifted their price target on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, January 10th. 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.91.

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.