Globus Medical, Inc. (NYSE:GMED) Shares Acquired by Bridge City Capital LLC

Bridge City Capital LLC lifted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 8.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,875 shares of the medical device company’s stock after buying an additional 8,732 shares during the quarter. Globus Medical makes up about 2.6% of Bridge City Capital LLC’s investment portfolio, making the stock its 3rd largest holding. Bridge City Capital LLC owned approximately 0.09% of Globus Medical worth $9,667,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in GMED. Stevens Capital Management LP acquired a new position in Globus Medical in the fourth quarter worth $335,000. LPL Financial LLC boosted its holdings in Globus Medical by 7.6% in the fourth quarter. LPL Financial LLC now owns 126,548 shares of the medical device company’s stock worth $10,467,000 after purchasing an additional 8,987 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Globus Medical in the fourth quarter worth $1,900,000. Sei Investments Co. boosted its holdings in Globus Medical by 4.9% in the fourth quarter. Sei Investments Co. now owns 96,775 shares of the medical device company’s stock worth $8,004,000 after purchasing an additional 4,505 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Globus Medical by 255.9% in the fourth quarter. American Century Companies Inc. now owns 103,833 shares of the medical device company’s stock worth $8,588,000 after purchasing an additional 74,659 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on GMED. StockNews.com cut Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday. Barclays raised their target price on Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Roth Mkm raised their target price on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $83.00 to $100.00 in a research note on Monday, December 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research note on Tuesday, March 18th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.09.

Globus Medical Stock Down 0.3 %

Shares of NYSE GMED opened at $73.67 on Friday. The firm’s 50-day simple moving average is $83.61 and its 200 day simple moving average is $79.77. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The stock has a market cap of $10.13 billion, a P/E ratio of 98.22, a P/E/G ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping 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 firm had revenue of $657.29 million for the quarter, compared to analysts’ expectations of $646.19 million. On average, sell-side analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Globus Medical news, 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 transaction of $1,250,804.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 18.54% of the stock is currently owned by company insiders.

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.