Centiva Capital LP Has $544,000 Holdings in Globus Medical, Inc. (NYSE:GMED)

Centiva Capital LP grew its position in Globus Medical, Inc. (NYSE:GMED) by 16.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,572 shares of the medical device company’s stock after purchasing an additional 911 shares during the period. Centiva Capital LP’s holdings in Globus Medical were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Globus Medical during the 4th quarter worth $27,000. UMB Bank n.a. raised its stake in Globus Medical by 60.2% in the 4th 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 in the last quarter. V Square Quantitative Management LLC boosted its holdings in Globus Medical by 52.0% in the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock valued at $48,000 after purchasing an additional 197 shares during the period. First Horizon Advisors Inc. grew its position in shares of Globus Medical by 24.7% during the 4th 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 in the last quarter. Finally, Huntington National Bank increased its holdings in shares of Globus Medical by 47.8% during the fourth quarter. Huntington National Bank now owns 958 shares of the medical device company’s stock worth $79,000 after purchasing an additional 310 shares during the period. Institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Performance

NYSE GMED opened at $55.54 on Friday. Globus Medical, Inc. has a fifty-two week low of $54.48 and a fifty-two week high of $94.93. The stock has a market cap of $7.64 billion, a PE ratio of 74.05, a PEG ratio of 1.61 and a beta of 1.32. The firm’s fifty day moving average price is $72.21 and its two-hundred day moving average price is $79.85.

Globus Medical (NYSE:GMED) last issued its earnings results on Thursday, May 8th. The medical device company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06). Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The firm had revenue of $598.12 million during the quarter, compared to analyst estimates of $629.74 million. During the same period in the previous year, the company earned $0.72 EPS. Globus Medical’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, sell-side analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GMED. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research report on Tuesday, March 18th. StockNews.com cut Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Barclays upped their price objective on shares of Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Piper Sandler decreased their target price on shares of Globus Medical from $100.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Stifel Nicolaus upped 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. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.09.

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.