Wellington Management Group LLP Raises Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Wellington Management Group LLP lifted its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,912,454 shares of the medical device company’s stock after acquiring an additional 252,510 shares during the period. Wellington Management Group LLP’s holdings in Globus Medical were worth $155,205,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Aurora Investment Counsel purchased a new position in Globus Medical during the 4th quarter worth $1,795,000. Boone Capital Management LLC grew its holdings in shares of Globus Medical by 23.7% during the fourth quarter. Boone Capital Management LLC now owns 529,825 shares of the medical device company’s stock worth $28,234,000 after buying an additional 101,373 shares during the last quarter. Sirios Capital Management L P grew its holdings in shares of Globus Medical by 69.2% during the fourth quarter. Sirios Capital Management L P now owns 368,771 shares of the medical device company’s stock worth $19,652,000 after buying an additional 150,820 shares during the last quarter. Vestal Point Capital LP purchased a new stake in Globus Medical during the 4th quarter valued at approximately $42,632,000. Finally, Burgundy Asset Management Ltd. lifted its position in Globus Medical by 64.2% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,697,552 shares of the medical device company’s stock worth $90,463,000 after acquiring an additional 663,782 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Globus Medical news, Director Dan Lemaitre sold 63,300 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $64.61, for a total value of $4,089,813.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Dan Lemaitre sold 63,300 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $64.61, for a total transaction of $4,089,813.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David D. Davidar sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $65.00, for a total transaction of $1,300,000.00. Following the sale, the director now owns 566,275 shares of the company’s stock, valued at approximately $36,807,875. The disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

Globus Medical Stock Up 0.5 %

GMED stock opened at $67.02 on Thursday. The stock’s fifty day simple moving average is $60.05 and its 200-day simple moving average is $55.40. Globus Medical, Inc. has a 52-week low of $43.38 and a 52-week high of $67.89. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 104.72, a price-to-earnings-growth ratio of 1.86 and a beta of 1.15.

Globus Medical (NYSE:GMED) last posted its earnings results on Tuesday, May 7th. The medical device company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.17. The firm had revenue of $606.67 million during the quarter, compared to the consensus estimate of $586.82 million. Globus Medical had a net margin of 3.51% and a return on equity of 8.82%. The company’s revenue was up 119.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. As a group, analysts anticipate that Globus Medical, Inc. will post 2.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on GMED. Truist Financial upped their price target on Globus Medical from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. Barclays upped their price objective on shares of Globus Medical from $83.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research note on Wednesday, May 8th. Stifel Nicolaus increased their price target on shares of Globus Medical from $64.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, BTIG Research lifted their price target on shares of Globus Medical from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.40.

Globus Medical Company 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.