Centiva Capital LP Has $544,000 Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Centiva Capital LP grew its stake in Globus Medical, Inc. (NYSE:GMED) by 16.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,572 shares of the medical device company’s stock after purchasing an additional 911 shares during the quarter. Centiva Capital LP’s holdings in Globus Medical were worth $544,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Franklin Resources Inc. acquired a new position in shares of Globus Medical during the 3rd quarter worth about $3,833,000. GAMMA Investing LLC grew its holdings in Globus Medical by 41.7% during the fourth quarter. GAMMA Investing LLC now owns 1,258 shares of the medical device company’s stock valued at $104,000 after purchasing an additional 370 shares during the period. Oak Thistle LLC bought a new stake in Globus Medical in the fourth quarter valued at approximately $376,000. Assenagon Asset Management S.A. raised its holdings in Globus Medical by 77.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 95,898 shares of the medical device company’s stock worth $7,932,000 after purchasing an additional 41,875 shares during the period. Finally, Kathmere Capital Management LLC bought a new position in shares of Globus Medical during the fourth quarter worth $23,091,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Stock Performance

GMED opened at $55.54 on Friday. The business’s 50-day simple moving average is $72.21 and its 200 day simple moving average is $79.85. Globus Medical, Inc. has a 52-week low of $54.48 and a 52-week high of $94.93. The firm has a market capitalization of $7.64 billion, a PE ratio of 74.05, a PEG ratio of 1.61 and a beta of 1.32.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Thursday, May 8th. The medical device company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06). The company had revenue of $598.12 million for the quarter, compared to the consensus estimate of $629.74 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. On average, research analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on GMED shares. StockNews.com downgraded Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Piper Sandler cut their price objective on Globus Medical from $100.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday. Wells Fargo & Company lowered their target price on Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Stifel Nicolaus raised their target price on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a report on Tuesday, March 18th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Globus Medical has a consensus rating of “Moderate Buy” and an average target price of $95.09.

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.