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

Stevens Capital Management LP purchased a new stake in shares of Globus Medical, Inc. (NYSE:GMED) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,046 shares of the medical device company’s stock, valued at approximately $335,000.

A number of other institutional investors have also recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Globus Medical by 2.3% during the 3rd quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock valued at $255,450,000 after acquiring an additional 81,371 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Globus Medical by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company’s stock worth $134,893,000 after buying an additional 21,935 shares during the last quarter. Geneva Capital Management LLC boosted its holdings in shares of Globus Medical by 13.6% in the fourth quarter. Geneva Capital Management LLC now owns 1,815,837 shares of the medical device company’s stock worth $150,188,000 after buying an additional 217,707 shares during the last quarter. Parsifal Capital Management LP boosted its holdings in shares of Globus Medical by 50.5% in the third quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock worth $96,619,000 after buying an additional 453,053 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted 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 worth $88,610,000 after buying an additional 285,172 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insider Activity at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.54% of the stock is currently owned by insiders.

Globus Medical Price Performance

Globus Medical stock opened at $73.67 on Monday. The stock 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, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93. The firm’s 50 day moving average price is $83.61 and its 200-day moving average price is $79.83.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.10. The firm 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%. As a group, equities analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. Stifel Nicolaus raised 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 reissued a “hold” rating on shares of Globus Medical in a report on Tuesday, March 18th. Truist Financial dropped their price objective on shares of Globus Medical from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Finally, Roth Mkm raised their target price on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.09.

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.