Janus Henderson Group PLC Sells 382,855 Shares of Globus Medical, Inc. (NYSE:GMED)

Janus Henderson Group PLC lessened its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,614,812 shares of the medical device company’s stock after selling 382,855 shares during the quarter. Janus Henderson Group PLC owned approximately 4.86% of Globus Medical worth $547,119,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GMED. American Century Companies Inc. grew its holdings in Globus Medical by 255.9% in the fourth quarter. American Century Companies Inc. now owns 103,833 shares of the medical device company’s stock worth $8,588,000 after purchasing an additional 74,659 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of Globus Medical in the 4th quarter worth $376,000. bLong Financial LLC purchased a new position in Globus Medical during the 4th quarter worth $397,000. Kathmere Capital Management LLC acquired a new position in Globus Medical during the 4th quarter valued at about $23,091,000. Finally, HB Wealth Management LLC purchased a new stake in Globus Medical in the fourth quarter valued at about $301,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GMED. Barclays boosted their price target on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. StockNews.com downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Piper Sandler decreased their price target on shares of Globus Medical from $100.00 to $80.00 and set an “overweight” rating for the company in a report on Friday. Wells Fargo & Company dropped their price objective on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Stifel Nicolaus upped their target price on Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.09.

Globus Medical Price Performance

Shares of NYSE GMED opened at $55.54 on Friday. The stock has a market capitalization of $7.64 billion, a price-to-earnings ratio of 74.05, a PEG ratio of 1.61 and a beta of 1.32. The firm’s 50 day simple moving average is $72.21 and its 200-day simple moving average is $79.89. Globus Medical, Inc. has a 12 month low of $54.48 and a 12 month high of $94.93.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Thursday, May 8th. The medical device company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.06). The firm had revenue of $598.12 million for the quarter, compared to analyst estimates of $629.74 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 EPS. Analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

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.