Old West Investment Management LLC Buys 4,506 Shares of Globus Medical, Inc. (NYSE:GMED)

Old West Investment Management LLC increased its stake in Globus Medical, Inc. (NYSE:GMED) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 120,244 shares of the medical device company’s stock after buying an additional 4,506 shares during the quarter. Globus Medical comprises 4.0% of Old West Investment Management LLC’s portfolio, making the stock its 7th largest position. Old West Investment Management LLC owned about 0.09% of Globus Medical worth $9,945,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of GMED. American Century Companies Inc. grew its position 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 valued at $8,588,000 after acquiring an additional 74,659 shares in the last quarter. Oak Thistle LLC purchased a new stake in Globus Medical during the 4th quarter worth $376,000. bLong Financial LLC acquired a new position in Globus Medical in the 4th quarter worth $397,000. Kathmere Capital Management LLC purchased a new position in Globus Medical in the 4th quarter valued at about $23,091,000. Finally, State Street Corp grew its stake in shares of Globus Medical by 2.3% during the third quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock valued at $255,450,000 after acquiring an additional 81,371 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on GMED. BTIG Research increased their price target on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, December 12th. StockNews.com cut Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. Barclays increased their price objective on shares of Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.09.

Globus Medical Trading Down 4.2 %

NYSE:GMED opened at $69.01 on Friday. The stock has a 50 day moving average of $80.17 and a 200-day moving average of $79.95. The firm has a market capitalization of $9.49 billion, a PE ratio of 92.01, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93.

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

Insider Activity at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.54% of the stock is owned by insiders.

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.