Barclays PLC Sells 5,918 Shares of Globus Medical, Inc. (NYSE:GMED)

Barclays PLC cut its holdings in Globus Medical, Inc. (NYSE:GMED) by 6.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 86,683 shares of the medical device company’s stock after selling 5,918 shares during the period. Barclays PLC’s holdings in Globus Medical were worth $7,169,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GMED. First Horizon Advisors Inc. lifted its holdings in shares of Globus Medical by 24.7% during the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock valued at $55,000 after purchasing an additional 132 shares in the last quarter. US Bancorp DE lifted its stake in Globus Medical by 3.2% during the 4th quarter. US Bancorp DE now owns 4,305 shares of the medical device company’s stock valued at $356,000 after acquiring an additional 135 shares during the period. Berry Wealth Group LP boosted its holdings in shares of Globus Medical by 5.1% during the 4th quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock valued at $282,000 after acquiring an additional 164 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Globus Medical by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company’s stock worth $288,000 after acquiring an additional 175 shares during the period. Finally, Mather Group LLC. raised its holdings in shares of Globus Medical by 16.3% during the fourth quarter. Mather Group LLC. now owns 1,356 shares of the medical device company’s stock valued at $112,000 after purchasing an additional 190 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Globus Medical Trading Up 1.8 %

Shares of GMED opened at $73.11 on Friday. The business’s 50 day moving average is $74.54 and its 200 day moving average is $80.00. Globus Medical, Inc. has a 12-month low of $49.33 and a 12-month high of $94.93. The company has a market capitalization of $10.06 billion, a PE ratio of 97.48, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The firm had revenue of $657.29 million for the quarter, compared to analysts’ expectations of $646.19 million. Equities research analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GMED shares. StockNews.com cut shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Truist Financial cut their price objective on Globus Medical from $82.00 to $80.00 and set a “hold” rating for the company in a report on Friday, April 11th. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a report on Tuesday, March 18th. Canaccord Genuity Group raised their target price on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, 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 research report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.91.

Globus Medical 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.