Axa S.A. Sells 37,013 Shares of Globus Medical, Inc. (NYSE:GMED)

Axa S.A. reduced its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,423,195 shares of the medical device company’s stock after selling 37,013 shares during the period. Axa S.A.’s holdings in Globus Medical were worth $117,712,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Freestone Grove Partners LP bought a new position in shares of Globus Medical during the 4th quarter valued at $6,290,000. Kapitalo Investimentos Ltda purchased a new stake in Globus Medical during the fourth quarter valued at about $157,000. Schonfeld Strategic Advisors LLC boosted its position in Globus Medical by 379.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 21,470 shares of the medical device company’s stock valued at $1,776,000 after buying an additional 16,989 shares during the period. Northern Trust Corp grew its stake in shares of Globus Medical by 19.9% during the fourth quarter. Northern Trust Corp now owns 914,332 shares of the medical device company’s stock valued at $75,624,000 after buying an additional 151,454 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Globus Medical by 1.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,076,733 shares of the medical device company’s stock worth $89,057,000 after buying an additional 10,989 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Globus Medical Price Performance

GMED stock opened at $71.90 on Friday. The firm has a 50-day moving average of $73.33 and a 200 day moving average of $80.04. The company has a market cap of $9.89 billion, a P/E ratio of 95.87, a PEG ratio of 1.61 and a beta of 1.32. Globus Medical, Inc. has a 1 year low of $50.00 and a 1 year high of $94.93.

Globus Medical (NYSE:GMED) last announced its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share (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 firm had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. On average, equities research analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Barclays increased their target price on Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Stifel Nicolaus lifted their target price on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. StockNews.com cut shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, Wells Fargo & Company decreased their price objective on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock 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. According to data from MarketBeat, the stock currently has a consensus 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.