Jennison Associates LLC increased its holdings in shares of Globus Medical Inc (NYSE:GMED) by 9.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,038 shares of the medical device company’s stock after acquiring an additional 1,900 shares during the quarter. Jennison Associates LLC’s holdings in Globus Medical were worth $947,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. APG Asset Management N.V. lifted its holdings in Globus Medical by 87.1% during the fourth quarter. APG Asset Management N.V. now owns 437,300 shares of the medical device company’s stock worth $14,968,000 after acquiring an additional 203,600 shares during the period. SG Americas Securities LLC raised its stake in shares of Globus Medical by 73.7% in the fourth quarter. SG Americas Securities LLC now owns 51,346 shares of the medical device company’s stock valued at $2,110,000 after buying an additional 21,781 shares during the period. Prospera Financial Services Inc bought a new stake in shares of Globus Medical in the fourth quarter valued at $2,533,000. Strs Ohio raised its stake in shares of Globus Medical by 275.8% in the fourth quarter. Strs Ohio now owns 35,700 shares of the medical device company’s stock valued at $1,467,000 after buying an additional 26,200 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Globus Medical by 12.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 390,522 shares of the medical device company’s stock valued at $16,051,000 after buying an additional 43,747 shares during the period. Institutional investors and hedge funds own 70.28% of the company’s stock.

Shares of Globus Medical Inc (GMED) opened at $45.64 on Monday. Globus Medical Inc has a one year low of $25.85 and a one year high of $47.09. The stock has a market capitalization of $4,398.60, a price-to-earnings ratio of 41.49, a P/E/G ratio of 2.67 and a beta of 0.48.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Wednesday, November 8th. The medical device company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The company had revenue of $151.74 million for the quarter, compared to analyst estimates of $150.73 million. During the same period in the previous year, the company posted $0.29 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. equities analysts expect that Globus Medical Inc will post 1.28 EPS for the current year.

In related news, Director David D. Davidar sold 55,383 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $40.66, for a total transaction of $2,251,872.78. Following the sale, the director now directly owns 752,236 shares in the company, valued at approximately $30,585,915.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Steven Payne sold 3,076 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $39.30, for a total value of $120,886.80. Following the sale, the chief accounting officer now owns 23,847 shares in the company, valued at $937,187.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,908 shares of company stock worth $4,747,975. 28.21% of the stock is currently owned by corporate insiders.

Several analysts have issued reports on GMED shares. Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and set a $48.00 target price on the stock in a research note on Tuesday, January 2nd. Wells Fargo & Co upgraded Globus Medical from a “market perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a research note on Monday, December 4th. ValuEngine lowered Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded Globus Medical from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, BTIG Research set a $45.00 target price on Globus Medical and gave the company a “buy” rating in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. Globus Medical has a consensus rating of “Buy” and an average target price of $40.57.

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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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Institutional Ownership by Quarter for Globus Medical (NYSE:GMED)

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