Mariner LLC Boosts Position in Globus Medical, Inc. (NYSE:GMED)

Mariner LLC grew its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,784 shares of the medical device company’s stock after buying an additional 1,342 shares during the period. Mariner LLC’s holdings in Globus Medical were worth $1,140,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. increased its holdings in 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 acquiring an additional 132 shares during the period. US Bancorp DE grew its position in shares of Globus Medical by 3.2% during the 4th quarter. US Bancorp DE now owns 4,305 shares of the medical device company’s stock valued at $356,000 after purchasing an additional 135 shares in the last quarter. Berry Wealth Group LP increased its holdings in shares of Globus Medical by 5.1% in the fourth quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock worth $282,000 after purchasing an additional 164 shares during the period. CIBC Asset Management Inc raised its position in shares of Globus Medical by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company’s stock worth $288,000 after buying an additional 175 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in Globus Medical by 16.3% during the fourth quarter. Mather Group LLC. now owns 1,356 shares of the medical device company’s stock valued at $112,000 after buying an additional 190 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Globus Medical Stock Performance

Shares of GMED stock opened at $72.86 on Friday. The company has a market capitalization of $10.02 billion, a price-to-earnings ratio of 97.15, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The company’s 50-day moving average is $74.30 and its 200 day moving average is $80.08.

Globus Medical (NYSE:GMED) last posted 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. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The firm had revenue of $657.29 million for the quarter, compared to analysts’ expectations of $646.19 million. As a group, research analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GMED has been the topic of a number of research analyst reports. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. Stifel Nicolaus upped their price objective on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Truist Financial dropped their target price on shares of Globus Medical from $82.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Canaccord Genuity Group increased their price target on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, StockNews.com cut shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.91.

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.