Barclays PLC Cuts Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Barclays PLC reduced its stake in Globus Medical, Inc. (NYSE:GMED) by 6.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 86,683 shares of the medical device company’s stock after selling 5,918 shares during the quarter. Barclays PLC owned approximately 0.06% of Globus Medical worth $7,169,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GMED. American Century Companies Inc. lifted its position in shares of Globus Medical by 255.9% during the fourth 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 in the last quarter. Oak Thistle LLC bought a new position in shares of Globus Medical during the 4th quarter worth approximately $376,000. bLong Financial LLC purchased a new position in shares of Globus Medical in the 4th quarter worth approximately $397,000. Kathmere Capital Management LLC bought a new position in shares of Globus Medical in the fourth quarter valued at approximately $23,091,000. Finally, HB Wealth Management LLC purchased a new stake in shares of Globus Medical during the fourth quarter valued at approximately $301,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GMED has been the subject of several research reports. StockNews.com lowered shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and increased their target price for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Stifel Nicolaus increased their price target on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Canaccord Genuity Group boosted their price objective on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Tuesday, March 18th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.91.

Globus Medical Trading Up 1.8 %

Shares of NYSE GMED opened at $73.11 on Friday. The business has a 50-day moving average of $74.54 and a 200-day moving average of $80.00. The firm has a market capitalization of $10.06 billion, a price-to-earnings ratio of 97.48, a PEG ratio of 1.61 and a beta of 1.28. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93.

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

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.