Tudor Investment Corp ET AL Sells 59,661 Shares of Globus Medical, Inc. (NYSE:GMED)

Tudor Investment Corp ET AL lowered its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 36.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,020 shares of the medical device company’s stock after selling 59,661 shares during the quarter. Tudor Investment Corp ET AL owned about 0.08% of Globus Medical worth $8,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GMED. Quarry LP grew its holdings in Globus Medical by 193.5% in the fourth quarter. Quarry LP now owns 1,453 shares of the medical device company’s stock worth $120,000 after purchasing an additional 958 shares during the last quarter. Oxford Asset Management LLP purchased a new position in Globus Medical during the 4th quarter worth $970,000. Johnson Financial Group Inc. increased its position in Globus Medical by 827.1% during the 4th quarter. Johnson Financial Group Inc. now owns 1,094 shares of the medical device company’s stock valued at $90,000 after buying an additional 976 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in Globus Medical by 13.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,077 shares of the medical device company’s stock valued at $585,000 after buying an additional 858 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in Globus Medical by 31.1% in the fourth quarter. Lord Abbett & CO. LLC now owns 695,676 shares of the medical device company’s stock worth $57,539,000 after acquiring an additional 165,225 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

GMED has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Stifel Nicolaus upped their price target on shares of Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Wells Fargo & Company lowered their price objective on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Finally, Canaccord Genuity Group raised their target price on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.91.

Globus Medical Stock Down 0.4 %

Globus Medical stock opened at $72.34 on Wednesday. The business’s 50-day moving average price is $73.83 and its 200 day moving average price is $80.12. The firm has a market cap of $9.95 billion, a price-to-earnings ratio of 96.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93.

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

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.