Wellington Management Group LLP Has $206.49 Million Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Wellington Management Group LLP lowered its position in shares of Globus Medical, Inc. (NYSE:GMED) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,496,599 shares of the medical device company’s stock after selling 81,891 shares during the quarter. Wellington Management Group LLP owned approximately 1.82% of Globus Medical worth $206,494,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GMED. Norges Bank bought a new position in shares of Globus Medical in the fourth quarter valued at approximately $117,102,000. Raymond James Financial Inc. acquired a new position in Globus Medical in the fourth quarter worth $58,405,000. Lord Abbett & CO. LLC bought a new stake in shares of Globus Medical during the third quarter worth $37,948,000. Parsifal Capital Management LP increased its stake in shares of Globus Medical by 50.5% in the third quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock valued at $96,619,000 after buying an additional 453,053 shares in the last quarter. Finally, Kathmere Capital Management LLC acquired a new position in Globus Medical during the 4th quarter worth about $23,091,000. 95.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on GMED shares. Truist Financial decreased their price target on shares of Globus Medical from $90.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. BTIG Research lifted their target price on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a report on Tuesday, March 18th. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and upped their target price for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Finally, Barclays lifted their price target on shares of Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Globus Medical has an average rating of “Moderate Buy” and an average price target of $97.09.

Insiders Place Their Bets

In other news, CFO Keith W. Pfeil sold 14,167 shares of the company’s 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 Securities & Exchange Commission, which is available through this link. Corporate insiders own 18.54% of the company’s stock.

Globus Medical Price Performance

NYSE GMED opened at $75.62 on Thursday. The stock’s 50-day moving average is $81.05 and its 200-day moving average is $80.02. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The firm has a market cap of $10.40 billion, a P/E ratio of 100.83, a P/E/G ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $646.19 million. Equities analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current 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.