Mutual of America Capital Management LLC Has $4.97 Million Stake in Globus Medical, Inc. (NYSE:GMED)

Mutual of America Capital Management LLC lessened its position in Globus Medical, Inc. (NYSE:GMED) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,080 shares of the medical device company’s stock after selling 980 shares during the period. Mutual of America Capital Management LLC’s holdings in Globus Medical were worth $4,969,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. ArrowMark Colorado Holdings LLC acquired a new position in shares of Globus Medical in the third quarter valued at approximately $43,947,000. Lord Abbett & CO. LLC bought a new stake in Globus Medical during the 3rd quarter worth approximately $37,948,000. Parsifal Capital Management LP grew its holdings in Globus Medical by 50.5% during the 3rd quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock worth $96,619,000 after acquiring an additional 453,053 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Globus Medical in the 3rd quarter valued at approximately $26,406,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Globus Medical by 29.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock valued at $88,610,000 after acquiring an additional 285,172 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GMED. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Friday, February 21st. Royal Bank of Canada upped their price target on Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Barclays raised their price objective on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Canaccord Genuity Group upped their target price on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $97.82.

Globus Medical Stock Down 1.4 %

Shares of NYSE GMED opened at $78.13 on Wednesday. The firm has a market cap of $10.75 billion, a PE ratio of 104.17, a P/E/G ratio of 1.61 and a beta of 1.19. The company’s fifty day simple moving average is $86.28 and its 200 day simple moving average is $79.60. Globus Medical, Inc. has a 12-month low of $49.33 and a 12-month high of $94.93.

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

Insiders Place Their Bets

In other news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 18.54% of the company’s stock.

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.