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

Massachusetts Financial Services Co. MA grew its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 31.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 483,353 shares of the medical device company’s stock after purchasing an additional 114,251 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.35% of Globus Medical worth $39,978,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GMED. SBI Securities Co. Ltd. acquired a new stake in Globus Medical in the 4th quarter worth about $27,000. Quarry LP boosted its position in shares of Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after acquiring an additional 433 shares during the last quarter. UMB Bank n.a. grew its holdings in Globus Medical by 60.2% in the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 206 shares during the period. V Square Quantitative Management LLC increased its position in Globus Medical by 52.0% during the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after purchasing an additional 197 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in Globus Medical by 24.7% during the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after purchasing an additional 132 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Price Performance

Shares of GMED stock opened at $69.01 on Friday. The company’s fifty day moving average price is $80.17 and its two-hundred day moving average price is $80.03. The firm has a market capitalization of $9.49 billion, a P/E ratio of 92.01, a P/E/G ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The business had revenue of $657.29 million for the quarter, compared to analysts’ expectations of $646.19 million. On average, sell-side analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.

Insider Buying and Selling

In other Globus Medical 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 18.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GMED. BTIG Research upped their price objective on Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Barclays raised their price objective on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. StockNews.com cut Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Finally, Needham & Company LLC reiterated 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 given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.09.

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.