Sterling Capital Management LLC Buys 2,366 Shares of Globus Medical, Inc. (NYSE:GMED)

Sterling Capital Management LLC boosted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 38.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,510 shares of the medical device company’s stock after buying an additional 2,366 shares during the period. Sterling Capital Management LLC’s holdings in Globus Medical were worth $704,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of Globus Medical during the fourth quarter valued at $27,000. UMB Bank n.a. increased its stake in Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 206 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in Globus Medical by 52.0% in the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after buying an additional 197 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Globus Medical by 24.7% in the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after buying an additional 132 shares during the last quarter. Finally, Huntington National Bank lifted its stake in shares of Globus Medical by 47.8% in the fourth quarter. Huntington National Bank now owns 958 shares of the medical device company’s stock worth $79,000 after buying an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a report on Tuesday, March 18th. Wells Fargo & Company lowered their target price on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Canaccord Genuity Group lifted their price target on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Bank of America upgraded shares of 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 report on Thursday, January 9th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Globus Medical presently has a consensus rating of “Moderate Buy” and an average target price of $96.91.

Globus Medical Trading Down 1.7 %

GMED opened at $71.15 on Thursday. The firm’s 50 day simple moving average is $76.16 and its two-hundred day simple moving average is $79.97. The company has a market capitalization of $9.79 billion, a PE ratio of 94.87, a PEG ratio of 1.61 and a beta of 1.28. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93.

Globus Medical (NYSE:GMED) last announced its earnings results 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. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The company had revenue of $657.29 million for the quarter, compared to analysts’ expectations of $646.19 million. Equities analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal 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.