Axa S.A. Sells 37,013 Shares of Globus Medical, Inc. (NYSE:GMED)

Axa S.A. cut its holdings in Globus Medical, Inc. (NYSE:GMED) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,423,195 shares of the medical device company’s stock after selling 37,013 shares during the period. Axa S.A. owned about 1.05% of Globus Medical worth $117,712,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Globus Medical by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 10,863,834 shares of the medical device company’s stock valued at $898,548,000 after acquiring an additional 240,218 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Globus Medical by 7.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,804,330 shares of the medical device company’s stock valued at $231,946,000 after purchasing an additional 199,556 shares during the last quarter. Geode Capital Management LLC grew its holdings in Globus Medical by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,897,212 shares of the medical device company’s stock valued at $156,969,000 after purchasing an additional 12,151 shares during the period. Geneva Capital Management LLC increased its position in Globus Medical by 13.6% in the fourth quarter. Geneva Capital Management LLC now owns 1,815,837 shares of the medical device company’s stock worth $150,188,000 after buying an additional 217,707 shares during the last quarter. Finally, Norges Bank purchased a new stake in Globus Medical in the fourth quarter worth $117,102,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research note on Tuesday, March 18th. Stifel Nicolaus upped their price objective on shares of Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a report on Friday, February 21st. Truist Financial reduced 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 note on Friday, April 11th. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and upped their price target for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Finally, Canaccord Genuity Group lifted their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $96.91.

Globus Medical Stock Performance

NYSE:GMED opened at $71.90 on Friday. Globus Medical, Inc. has a 52-week low of $50.00 and a 52-week high of $94.93. The stock has a fifty day moving average of $73.33 and a 200 day moving average of $80.04. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of 95.87, a P/E/G ratio of 1.61 and a beta of 1.32.

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

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.