Mutual of America Capital Management LLC Has $4.97 Million Holdings in Globus Medical, Inc. (NYSE:GMED)

Mutual of America Capital Management LLC lowered its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 1.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 60,080 shares of the medical device company’s stock after selling 980 shares during the period. Mutual of America Capital Management LLC’s holdings in Globus Medical were worth $4,969,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fielder Capital Group LLC bought a new position in Globus Medical during the 4th quarter valued at $201,000. Versor Investments LP bought a new position in shares of Globus Medical during the fourth quarter valued at about $231,000. Proficio Capital Partners LLC purchased a new position in Globus Medical during the fourth quarter worth about $1,190,000. Oppenheimer Asset Management Inc. grew its position in Globus Medical by 2.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 23,994 shares of the medical device company’s stock worth $1,985,000 after purchasing an additional 634 shares in the last quarter. Finally, Wealthspire Advisors LLC purchased a new stake in Globus Medical in the 4th quarter valued at about $225,000. 95.16% of the stock is owned by institutional investors.

Insider Activity

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 18.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GMED. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research note on Friday, February 21st. Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Canaccord Genuity Group raised their target price on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Stifel Nicolaus boosted their price target on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Truist Financial increased their price target on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Globus Medical presently has an average rating of “Moderate Buy” and a consensus price target of $97.82.

Globus Medical Stock Down 1.4 %

Shares of NYSE:GMED opened at $78.13 on Wednesday. The company has a 50-day moving average price of $86.28 and a two-hundred day moving average price of $79.60. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93. The firm has a market capitalization of $10.75 billion, a PE ratio of 104.17, a P/E/G ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10. The business 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%. Analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

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.