Nuveen Asset Management LLC Has $20.52 Million Position in Globus Medical, Inc. (NYSE:GMED)


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Nuveen Asset Management LLC grew its position in Globus Medical, Inc. (NYSE:GMED) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 314,548 shares of the medical device company’s stock after purchasing an additional 21,787 shares during the period. Nuveen Asset Management LLC owned about 0.32% of Globus Medical worth $20,515,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Guggenheim Capital LLC increased its position in shares of Globus Medical by 4.5% in the 3rd quarter. Guggenheim Capital LLC now owns 10,441 shares of the medical device company’s stock valued at $517,000 after buying an additional 454 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in Globus Medical by 7.9% in the third quarter. UBS Asset Management Americas Inc. now owns 128,189 shares of the medical device company’s stock valued at $6,348,000 after acquiring an additional 9,418 shares during the period. Morgan Stanley lifted its holdings in shares of Globus Medical by 60.6% during the 3rd quarter. Morgan Stanley now owns 320,287 shares of the medical device company’s stock valued at $15,861,000 after purchasing an additional 120,895 shares in the last quarter. ExodusPoint Capital Management LP grew its position in shares of Globus Medical by 64.7% in the 3rd quarter. ExodusPoint Capital Management LP now owns 30,939 shares of the medical device company’s stock valued at $1,532,000 after purchasing an additional 12,159 shares during the period. Finally, Capital Advisory Group Advisory Services LLC grew its position in shares of Globus Medical by 2,178.8% in the 3rd quarter. Capital Advisory Group Advisory Services LLC now owns 752 shares of the medical device company’s stock valued at $37,000 after purchasing an additional 719 shares during the period. 64.35% of the stock is currently owned by institutional investors.

Several research analysts have recently weighed in on GMED shares. Morgan Stanley upped their price target on shares of Globus Medical from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Thursday, February 25th. BTIG Research upped their target price on shares of Globus Medical from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, February 18th. Credit Suisse Group lifted their price target on Globus Medical from $64.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, January 8th. Needham & Company LLC increased their price objective on Globus Medical from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 25th. Finally, Citigroup lifted their target price on Globus Medical from $72.00 to $77.00 in a research report on Thursday, February 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $65.75.

NYSE:GMED opened at $64.40 on Thursday. Globus Medical, Inc. has a 1-year low of $42.85 and a 1-year high of $68.24. The firm has a fifty day simple moving average of $62.15 and a 200 day simple moving average of $59.95. The stock has a market capitalization of $6.43 billion, a PE ratio of 70.00, a P/E/G ratio of 2.89 and a beta of 1.02.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Tuesday, February 16th. The medical device company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.07. The firm had revenue of $233.45 million during the quarter, compared to analysts’ expectations of $234.25 million. Globus Medical had a net margin of 12.36% and a return on equity of 9.85%. Research analysts predict that Globus Medical, Inc. will post 1.36 EPS for the current year.

Globus Medical Company Profile

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders. Its offers spine products, such as consists of traditional fusion implants, such as pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative, deformity, tumors, and trauma conditions; treatment options for motion preservation technologies, such as dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional pain management solutions to treat vertebral compression fractures; and regenerative biologic products, comprising of allografts and synthetic alternatives.

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Institutional Ownership by Quarter for Globus Medical (NYSE:GMED)

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