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

Bryce Point Capital LLC bought a new stake in shares of Globus Medical, Inc. (NYSE:GMED) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,937 shares of the medical device company’s stock, valued at approximately $574,000.

Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Globus Medical during the 4th quarter valued at $27,000. Quarry LP raised its stake in Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after buying an additional 433 shares during the last quarter. UMB Bank n.a. raised its stake in 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 buying an additional 206 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in Globus Medical by 52.0% in the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after acquiring an additional 197 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Globus Medical by 24.7% during the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after acquiring an additional 132 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on GMED. Wells Fargo & Company lowered their target price on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. 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. Stifel Nicolaus raised their target price on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research note on Tuesday, March 18th. Finally, Canaccord Genuity Group raised their price objective on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $97.09.

Globus Medical Stock Performance

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

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 the consensus estimate of $0.74 by $0.10. The firm had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. On average, equities research analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Insider Activity

In related news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 18.54% of the company’s stock.

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.