Globus Medical, Inc. (NYSE:GMED) Stock Position Lifted by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lifted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 290.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,823 shares of the medical device company’s stock after purchasing an additional 14,000 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Globus Medical were worth $1,557,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GMED. CIBC Private Wealth Group LLC increased its stake in shares of Globus Medical by 8,104.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 136,845 shares of the medical device company’s stock valued at $11,844,000 after acquiring an additional 135,177 shares during the period. Okabena Investment Services Inc. acquired a new position in shares of Globus Medical during the 4th quarter valued at $644,000. Norges Bank acquired a new position in shares of Globus Medical during the 4th quarter valued at $117,102,000. JPMorgan Chase & Co. raised its stake in shares of Globus Medical by 7.7% in the 4th quarter. JPMorgan Chase & Co. now owns 2,804,330 shares of the medical device company’s stock worth $231,946,000 after buying an additional 199,556 shares in the last quarter. Finally, Summitry LLC acquired a new stake in shares of Globus Medical in the fourth quarter valued at $298,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Trading Down 4.2 %

NYSE GMED opened at $69.01 on Friday. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93. The firm’s fifty day simple moving average is $80.17 and its 200-day simple moving average is $80.03. The company 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.

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

Analysts Set New Price Targets

GMED has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price target on shares of Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a report on Friday, February 21st. Roth Mkm increased their target price on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. StockNews.com cut Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Tuesday, March 18th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Globus Medical has a consensus rating of “Moderate Buy” and an average target price of $97.09.

Insider Activity at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 18.54% of the company’s stock.

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.