Tower Research Capital LLC TRC Boosts Stock Position in Globus Medical, Inc. (NYSE:GMED)

Tower Research Capital LLC TRC lifted its position in shares of Globus Medical, Inc. (NYSE:GMED) by 180.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,483 shares of the medical device company’s stock after purchasing an additional 4,175 shares during the period. Tower Research Capital LLC TRC’s holdings in Globus Medical were worth $536,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Globus Medical during the fourth quarter worth about $27,000. UMB Bank n.a. boosted its holdings in shares of Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after purchasing an additional 206 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of Globus Medical by 52.0% during the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after purchasing an additional 197 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Globus Medical by 24.7% during the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after purchasing an additional 132 shares during the period. Finally, Huntington National Bank raised its stake in 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. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on GMED. Truist Financial decreased their price target on shares of Globus Medical from $82.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Wells Fargo & Company decreased their price target 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. Barclays increased their price target on shares of Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Tuesday, March 18th. Finally, StockNews.com downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $96.91.

Globus Medical Price Performance

Shares of NYSE:GMED opened at $72.58 on Tuesday. The company has a market cap of $9.98 billion, a P/E ratio of 96.77, 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. The stock’s fifty day moving average price is $74.07 and its 200-day moving average price is $80.17.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10. The company had revenue of $657.29 million during the quarter, compared to analysts’ expectations of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. On average, sell-side analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share 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.