Aigen Investment Management LP Makes New Investment in Globus Medical, Inc. (NYSE:GMED)

Aigen Investment Management LP acquired a new stake in Globus Medical, Inc. (NYSE:GMED) during the 4th quarter, Holdings Channel.com reports. The fund acquired 2,503 shares of the medical device company’s stock, valued at approximately $207,000.

Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Globus Medical in the 4th quarter valued at about $27,000. Quarry LP boosted its holdings in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after acquiring an additional 433 shares during the period. Farther Finance Advisors LLC grew its position in shares of Globus Medical by 230.5% in the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after purchasing an additional 385 shares during the last quarter. UMB Bank n.a. grew its position in shares of Globus Medical by 60.2% in the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 206 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its stake in shares of Globus Medical by 52.0% during the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after purchasing an additional 197 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

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 value of $1,250,804.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 18.54% of the stock is owned by corporate insiders.

Globus Medical Trading Up 1.5 %

Shares of Globus Medical stock opened at $77.48 on Monday. The company has a market cap of $10.66 billion, a PE ratio of 103.31, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The company has a 50 day moving average of $85.90 and a 200-day moving average of $79.77. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93.

Globus Medical (NYSE:GMED) last released 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 during the quarter, compared to analysts’ expectations of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. Research analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Analyst Ratings Changes

GMED has been the subject of several recent research reports. Roth Mkm boosted their price target on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Canaccord Genuity Group raised their price target on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. BTIG Research boosted their price objective on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, StockNews.com cut shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.82.

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.