Mutual of America Capital Management LLC Trims Stock Position in Globus Medical, Inc. (NYSE:GMED)

Mutual of America Capital Management LLC lowered its position in shares of Globus Medical, Inc. (NYSE:GMED) by 6.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,321 shares of the medical device company’s stock after selling 4,982 shares during the period. Mutual of America Capital Management LLC’s holdings in Globus Medical were worth $3,801,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in Globus Medical by 16.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,010,932 shares of the medical device company’s stock valued at $53,873,000 after acquiring an additional 141,492 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Globus Medical during the fourth quarter valued at approximately $2,118,000. Cambiar Investors LLC grew its stake in Globus Medical by 5.6% during the fourth quarter. Cambiar Investors LLC now owns 44,685 shares of the medical device company’s stock valued at $2,381,000 after acquiring an additional 2,371 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Globus Medical by 36.9% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 769,192 shares of the medical device company’s stock valued at $40,991,000 after acquiring an additional 207,172 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Globus Medical by 25.7% during the fourth quarter. Allworth Financial LP now owns 1,242 shares of the medical device company’s stock valued at $66,000 after acquiring an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insider Activity at Globus Medical

In related news, Director Leslie V. Norwalk sold 10,590 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $51.99, for a total transaction of $550,574.10. Following the completion of the sale, the director now directly owns 17,419 shares in the company, valued at approximately $905,613.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 24.30% of the stock is currently owned by company insiders.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $51.79 on Wednesday. Globus Medical, Inc. has a 52-week low of $43.38 and a 52-week high of $62.88. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of 44.27, a price-to-earnings-growth ratio of 1.52 and a beta of 1.08. The company has a fifty day moving average of $53.30 and a 200-day moving average of $51.37. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.72 and a current ratio of 4.88.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Tuesday, February 20th. The medical device company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. Globus Medical had a net margin of 7.83% and a return on equity of 8.82%. The company had revenue of $616.53 million during the quarter, compared to analyst estimates of $608.21 million. During the same period in the prior year, the business posted $0.59 EPS. The firm’s revenue was up 124.6% compared to the same quarter last year. Equities research analysts expect that Globus Medical, Inc. will post 2.69 EPS for the current year.

Wall Street Analyst Weigh In

GMED has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on shares of Globus Medical from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. BTIG Research raised shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Monday, March 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price target on shares of Globus Medical in a research note on Thursday, January 11th. Canaccord Genuity Group boosted their price target on shares of Globus Medical from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Finally, Truist Financial boosted their price target on shares of Globus Medical from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.33.

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.