Globus Medical, Inc. (NYSE:GMED) Holdings Raised by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its position in shares of Globus Medical, Inc. (NYSE:GMED) by 31.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 483,353 shares of the medical device company’s stock after purchasing an additional 114,251 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Globus Medical were worth $39,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings 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 worth $898,548,000 after purchasing an additional 240,218 shares during the period. State Street Corp grew its position in shares of Globus Medical by 2.3% during the 3rd quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock valued at $255,450,000 after buying an additional 81,371 shares during the last quarter. JPMorgan Chase & Co. raised 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 acquiring an additional 199,556 shares during the period. Geode Capital Management LLC lifted its holdings in Globus Medical by 0.6% in 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 acquiring an additional 12,151 shares during the last quarter. Finally, Geneva Capital Management LLC boosted its stake in Globus Medical by 13.6% in the fourth quarter. Geneva Capital Management LLC now owns 1,815,837 shares of the medical device company’s stock valued at $150,188,000 after acquiring an additional 217,707 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

GMED has been the topic of a number of research reports. BTIG Research increased their price target on Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Wells Fargo & Company dropped their target price 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. Roth Mkm boosted their price target on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Canaccord Genuity Group increased their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Stifel Nicolaus boosted their target price on shares of Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Globus Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.09.

Globus Medical Price Performance

Globus Medical stock opened at $69.01 on Friday. Globus Medical, Inc. has a 12-month low of $49.33 and a 12-month high of $94.93. The stock has a market capitalization of $9.49 billion, a PE ratio of 92.01, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The firm has a 50 day simple moving average of $80.17 and a 200-day simple moving average of $80.03.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $646.19 million. On average, analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 18.54% of the stock is owned by corporate insiders.

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.