Kennedy Capital Management LLC Decreases Stock Position in Globus Medical, Inc. (NYSE:GMED)

Kennedy Capital Management LLC lessened its holdings in Globus Medical, Inc. (NYSE:GMED) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 441,773 shares of the medical device company’s stock after selling 9,960 shares during the period. Globus Medical comprises 0.8% of Kennedy Capital Management LLC’s holdings, making the stock its 6th biggest holding. Kennedy Capital Management LLC owned approximately 0.32% of Globus Medical worth $36,539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Globus Medical in the fourth quarter valued at about $27,000. Quarry LP grew its holdings in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after purchasing an additional 433 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after purchasing an additional 206 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in shares of 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. grew 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 worth $55,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Globus Medical Price Performance

Shares of NYSE:GMED opened at $74.24 on Thursday. The company has a market cap of $10.21 billion, a P/E ratio of 98.99, a PEG ratio of 1.61 and a beta of 1.28. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93. The stock’s fifty day moving average price is $78.02 and its 200-day moving average price is $79.99.

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

Insider Buying and Selling at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the company’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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on GMED. Truist Financial reduced their price target on Globus Medical from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Roth Mkm upped their target price on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Barclays boosted their price target on Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Finally, Stifel Nicolaus upped their target price on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus 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.