GW&K Investment Management LLC Has $144.34 Million Stock Position in Globus Medical, Inc. (NYSE:GMED)

GW&K Investment Management LLC trimmed its position in Globus Medical, Inc. (NYSE:GMED) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,745,115 shares of the medical device company’s stock after selling 7,457 shares during the quarter. Globus Medical accounts for 1.2% of GW&K Investment Management LLC’s holdings, making the stock its 4th biggest holding. GW&K Investment Management LLC’s holdings in Globus Medical were worth $144,338,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP raised its position in shares of Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after buying an additional 433 shares in the last quarter. UMB Bank n.a. raised its holdings in Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after acquiring an additional 206 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after acquiring an additional 385 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of Globus Medical by 52.0% during the 4th 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 in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Globus Medical by 24.7% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Transactions at Globus Medical

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $87.00, for a total transaction of $217,500.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The disclosure for this sale can be found here. Company insiders own 18.54% of the company’s stock.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $78.55 on Friday. The company’s 50 day moving average price is $86.51 and its two-hundred day moving average price is $79.25. The firm has a market capitalization of $10.70 billion, a P/E ratio of 104.74, a P/E/G ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results 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, analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

GMED has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research report on Friday, February 21st. Roth Mkm boosted their target price on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Piper Sandler lifted their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded Globus Medical from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.82.

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.