Xponance Inc. Grows Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Xponance Inc. grew its position in shares of Globus Medical, Inc. (NYSE:GMED) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,892 shares of the medical device company’s stock after purchasing an additional 767 shares during the period. Xponance Inc.’s holdings in Globus Medical were worth $1,066,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC purchased a new stake in Globus Medical in the third quarter worth approximately $523,000. Pathstone Holdings LLC boosted its stake in shares of Globus Medical by 2.6% in the 3rd quarter. Pathstone Holdings LLC now owns 41,007 shares of the medical device company’s stock valued at $2,934,000 after purchasing an additional 1,055 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Globus Medical by 291.3% during the 3rd quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock valued at $1,469,000 after purchasing an additional 15,283 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Globus Medical in the 3rd quarter worth $26,406,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Globus Medical by 29.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock worth $88,610,000 after purchasing an additional 285,172 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GMED has been the topic of several analyst reports. Wells Fargo & Company decreased their price objective on Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. 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. BTIG Research upped their price target on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Canaccord Genuity Group increased their price target on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, Stifel Nicolaus boosted their price objective on shares of Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.09.

Globus Medical Price Performance

GMED stock opened at $73.67 on Monday. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93. The firm has a 50-day moving average of $83.61 and a 200 day moving average of $79.83. The company has a market cap of $10.13 billion, a P/E ratio of 98.22, a PEG ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last posted its earnings results 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 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, equities research analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a filing with the SEC, which is available through this link. 18.54% of the stock is owned by corporate 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.