Dynamic Technology Lab Private Ltd Buys New Shares in Globus Medical, Inc. (NYSE:GMED)

Dynamic Technology Lab Private Ltd purchased a new position in Globus Medical, Inc. (NYSE:GMED) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,218 shares of the medical device company’s stock, valued at approximately $680,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. raised its position in shares of Globus Medical by 255.9% during the 4th quarter. American Century Companies Inc. now owns 103,833 shares of the medical device company’s stock valued at $8,588,000 after purchasing an additional 74,659 shares during the period. Oak Thistle LLC purchased a new stake in Globus Medical in the 4th quarter worth $376,000. bLong Financial LLC bought a new stake in Globus Medical during the fourth quarter valued at about $397,000. Kathmere Capital Management LLC purchased a new position in shares of Globus Medical in the fourth quarter valued at about $23,091,000. Finally, State Street Corp boosted its stake in shares of Globus Medical by 2.3% in the third quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock worth $255,450,000 after acquiring an additional 81,371 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Performance

Shares of Globus Medical stock opened at $70.74 on Tuesday. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 94.32, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. The stock has a 50 day moving average price of $79.74 and a 200-day moving average price of $80.10. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data 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 net margin of 4.09% and a return on equity of 10.83%. The company had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. Sell-side analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on GMED. Canaccord Genuity Group boosted their price target on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Roth Mkm upped their target price on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Barclays lifted their price target on shares of Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 24th. StockNews.com downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.09.

Insiders Place Their Bets

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction on 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 SEC, which is available at the SEC website. 18.54% of the stock is owned by insiders.

Globus Medical Company 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.