Brandywine Global Investment Management LLC cut its stake in shares of Globus Medical Inc (NYSE:GMED) by 41.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 174,464 shares of the medical device company’s stock after selling 122,235 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.18% of Globus Medical worth $7,171,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. AXA grew its position in shares of Globus Medical by 23.6% during the fourth quarter. AXA now owns 930,009 shares of the medical device company’s stock worth $38,223,000 after buying an additional 177,803 shares in the last quarter. First Interstate Bank grew its position in shares of Globus Medical by 42.5% during the fourth quarter. First Interstate Bank now owns 4,321 shares of the medical device company’s stock worth $178,000 after buying an additional 1,288 shares in the last quarter. EAM Investors LLC acquired a new position in shares of Globus Medical during the fourth quarter worth about $2,408,000. Sawgrass Asset Management LLC boosted its holdings in Globus Medical by 115.9% in the fourth quarter. Sawgrass Asset Management LLC now owns 15,440 shares of the medical device company’s stock valued at $635,000 after purchasing an additional 8,290 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in Globus Medical by 7.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 222,335 shares of the medical device company’s stock valued at $9,138,000 after purchasing an additional 15,844 shares in the last quarter. 65.92% of the stock is owned by institutional investors and hedge funds.
Globus Medical Inc (NYSE:GMED) opened at $51.73 on Friday. The stock has a market capitalization of $4,968.18, a P/E ratio of 47.03, a P/E/G ratio of 2.85 and a beta of 0.44. Globus Medical Inc has a fifty-two week low of $27.79 and a fifty-two week high of $52.18.
Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Wednesday, February 21st. The medical device company reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.03. Globus Medical had a return on equity of 13.93% and a net margin of 16.88%. The company had revenue of $176.03 million during the quarter, compared to analysts’ expectations of $175.50 million. During the same quarter in the previous year, the business earned $0.31 earnings per share. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. research analysts predict that Globus Medical Inc will post 1.5 EPS for the current fiscal year.
GMED has been the subject of a number of research analyst reports. Zacks Investment Research raised Globus Medical from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. ValuEngine downgraded Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Oppenheimer set a $49.00 price target on Globus Medical and gave the company a “hold” rating in a report on Thursday, February 22nd. Wells Fargo reaffirmed an “outperform” rating and issued a $51.00 price target (up from $46.00) on shares of Globus Medical in a report on Wednesday, January 10th. Finally, Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and set a $48.00 price target for the company in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $49.57.
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Globus Medical Profile
Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.
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