MetLife Investment Advisors LLC Decreases Position in Globus Medical Inc (GMED)
MetLife Investment Advisors LLC cut its holdings in Globus Medical Inc (NYSE:GMED) by 17.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,021 shares of the medical device company’s stock after selling 16,236 shares during the period. MetLife Investment Advisors LLC owned approximately 0.08% of Globus Medical worth $3,420,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. PRW Wealth Management LLC acquired a new stake in Globus Medical during the fourth quarter worth about $31,000. Ffcm LLC acquired a new stake in Globus Medical during the fourth quarter worth about $36,000. Huntington National Bank acquired a new stake in Globus Medical during the fourth quarter worth about $38,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Globus Medical during the fourth quarter worth about $117,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Globus Medical by 18.6% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,614 shares of the medical device company’s stock worth $138,000 after buying an additional 567 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Oppenheimer reiterated a “hold” rating on shares of Globus Medical in a research note on Tuesday, March 19th. Zacks Investment Research downgraded shares of Globus Medical from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. ValuEngine downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Cantor Fitzgerald reiterated a “buy” rating and set a $60.00 price objective on shares of Globus Medical in a research note on Friday, March 1st. Finally, UBS Group upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Thursday, February 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $56.36.
GMED opened at $48.10 on Tuesday. Globus Medical Inc has a 1-year low of $38.01 and a 1-year high of $57.83. The company has a market capitalization of $4.75 billion, a PE ratio of 28.80, a P/E/G ratio of 2.42 and a beta of 0.86.
Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Thursday, February 21st. The medical device company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Globus Medical had a net margin of 21.95% and a return on equity of 15.22%. The company had revenue of $195.94 million for the quarter, compared to the consensus estimate of $195.50 million. Sell-side analysts anticipate that Globus Medical Inc will post 1.72 earnings per share for the current year.
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Globus Medical Company Profile
Globus Medical, Inc, a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address a variety of musculoskeletal pathologies, anatomies, and surgical approaches.
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