Tower Research Capital LLC TRC Buys 4,175 Shares of Globus Medical, Inc. (NYSE:GMED)

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

Several other large investors have also added to or reduced their stakes in GMED. First Horizon Advisors Inc. raised its position 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 valued at $55,000 after purchasing an additional 132 shares during the period. US Bancorp DE boosted its stake in shares of Globus Medical by 3.2% in the fourth quarter. US Bancorp DE now owns 4,305 shares of the medical device company’s stock worth $356,000 after acquiring an additional 135 shares during the period. Berry Wealth Group LP grew its position in shares of Globus Medical by 5.1% during 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 in the last quarter. CIBC Asset Management Inc lifted its holdings in Globus Medical by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company’s stock worth $288,000 after purchasing an additional 175 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in Globus Medical by 16.3% in the 4th quarter. Mather Group LLC. now owns 1,356 shares of the medical device company’s stock worth $112,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Trading Down 0.3 %

Shares of GMED opened at $72.58 on Tuesday. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93. The company has a market cap of $9.98 billion, a P/E ratio of 96.77, a P/E/G ratio of 1.61 and a beta of 1.28. The company’s fifty day simple moving average is $74.07 and its 200-day simple moving average is $80.17.

Globus Medical (NYSE:GMED) last announced its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The business had revenue of $657.29 million for the quarter, compared to the consensus estimate of $646.19 million. Analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GMED shares. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a report on Tuesday, March 18th. Canaccord Genuity Group upped their target price on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. 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. Stifel Nicolaus upped their target price 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. Finally, Wells Fargo & Company dropped their target price on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.91.

About Globus Medical

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.