Stevens Capital Management LP Takes $335,000 Position in Globus Medical, Inc. (NYSE:GMED)

Stevens Capital Management LP bought a new stake in shares of Globus Medical, Inc. (NYSE:GMED) in the fourth quarter, Holdings Channel.com reports. The fund bought 4,046 shares of the medical device company’s stock, valued at approximately $335,000.

A number of other large investors have also recently made changes to their positions in GMED. Quest Partners LLC purchased a new stake in shares of Globus Medical during the third quarter valued at $523,000. Pathstone Holdings LLC boosted its stake in shares of Globus Medical by 2.6% during the third 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 during the period. Intech Investment Management LLC boosted its stake in shares of Globus Medical by 291.3% during the third 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 period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Globus Medical during the third quarter valued at $26,406,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of 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 valued at $88,610,000 after acquiring an additional 285,172 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 18.54% of the stock is currently owned by insiders.

Globus Medical Stock Down 0.3 %

Shares of Globus Medical stock opened at $73.67 on Monday. The firm has a market capitalization of $10.13 billion, a P/E ratio of 98.22, a PEG ratio of 1.61 and a beta of 1.19. The company has a 50 day moving average price of $83.61 and a 200 day moving average price of $79.83. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week 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 EPS for the quarter, beating the consensus estimate 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%. As a group, research analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Truist Financial decreased their price objective on Globus Medical from $90.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, March 18th. Stifel Nicolaus lifted their price objective on Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a report on Friday, February 21st. Roth Mkm lifted their price objective on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Finally, Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $97.09.

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.