Bryce Point Capital LLC Invests $574,000 in Globus Medical, Inc. (NYSE:GMED)

Bryce Point Capital LLC purchased a new stake in Globus Medical, Inc. (NYSE:GMED) in the fourth quarter, Holdings Channel reports. The firm purchased 6,937 shares of the medical device company’s stock, valued at approximately $574,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GMED. Huntington National Bank increased its stake in shares of Globus Medical by 47.8% in the 4th quarter. Huntington National Bank now owns 958 shares of the medical device company’s stock worth $79,000 after acquiring an additional 310 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Globus Medical by 31.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 483,353 shares of the medical device company’s stock worth $39,978,000 after purchasing an additional 114,251 shares during the last quarter. Trexquant Investment LP acquired a new stake in Globus Medical during the fourth quarter worth about $11,771,000. Geode Capital Management LLC raised its stake in Globus Medical by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,897,212 shares of the medical device company’s stock worth $156,969,000 after purchasing an additional 12,151 shares during the period. Finally, HighPoint Advisor Group LLC boosted its holdings in Globus Medical by 11.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 4,446 shares of the medical device company’s stock valued at $375,000 after purchasing an additional 468 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Buying and Selling

In other 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.54% of the stock is currently owned by insiders.

Globus Medical Stock Performance

Shares of GMED stock opened at $75.62 on Thursday. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The company has a 50 day moving average price of $81.05 and a 200 day moving average price of $80.02. The stock has a market capitalization of $10.40 billion, a P/E ratio of 100.83, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The business had revenue of $657.29 million during the quarter, compared to the consensus estimate of $646.19 million. On average, research analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GMED shares. Roth Mkm lifted their price target on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Truist Financial reduced their target price on Globus Medical from $90.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. BTIG Research increased their price target on Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Canaccord Genuity Group boosted their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, Barclays increased their target price on shares of Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $97.09.

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.