Aurora Investment Counsel Lowers Position in Globus Medical, Inc. (NYSE:GMED)

Aurora Investment Counsel lessened its holdings in Globus Medical, Inc. (NYSE:GMED - Free Report) by 25.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,598 shares of the medical device company's stock after selling 7,918 shares during the period. Aurora Investment Counsel's holdings in Globus Medical were worth $1,617,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Segall Bryant & Hamill LLC raised its position in shares of Globus Medical by 7.2% in the third quarter. Segall Bryant & Hamill LLC now owns 387,737 shares of the medical device company's stock worth $27,739,000 after buying an additional 26,047 shares in the last quarter. Pathstone Holdings LLC raised its position in Globus Medical by 2.6% during the third quarter. Pathstone Holdings LLC now owns 41,007 shares of the medical device company's stock valued at $2,934,000 after purchasing an additional 1,055 shares in the last quarter. Quest Partners LLC purchased a new stake in Globus Medical during the third quarter valued at about $523,000. Sheaff Brock Investment Advisors LLC raised its position in Globus Medical by 0.8% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 39,024 shares of the medical device company's stock valued at $2,792,000 after purchasing an additional 321 shares in the last quarter. Finally, KBC Group NV raised its position in Globus Medical by 0.5% during the third quarter. KBC Group NV now owns 45,505 shares of the medical device company's stock valued at $3,255,000 after purchasing an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

GMED has been the topic of a number of research reports. Royal Bank of Canada raised their price target on Globus Medical from $80.00 to $92.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. Canaccord Genuity Group raised their price target on Globus Medical from $79.00 to $85.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Bank of America raised their price target on Globus Medical from $55.00 to $80.00 and gave the company an "underperform" rating in a research report on Wednesday, November 6th. BTIG Research raised their price target on Globus Medical from $77.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Finally, StockNews.com downgraded Globus Medical from a "buy" rating to a "hold" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.18.

Globus Medical Price Performance

NYSE GMED opened at $83.58 on Thursday. The business's 50-day moving average is $74.16 and its 200 day moving average is $70.35. The stock has a market capitalization of $11.38 billion, a PE ratio of 124.75, a PEG ratio of 1.99 and a beta of 1.17. Globus Medical, Inc. has a 1 year low of $44.02 and a 1 year high of $84.87.

Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.18. The business had revenue of $625.71 million for the quarter, compared to analysts' expectations of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The business's revenue was up 63.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 EPS. As a group, equities research analysts anticipate that Globus Medical, Inc. will post 2.98 earnings per share for the current year.

Insider Transactions at Globus Medical

In related news, Director Ann D. Rhoads sold 15,000 shares of the business's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $70.36, for a total value of $1,055,400.00. Following the completion of the transaction, the director now directly owns 42,884 shares in the company, valued at $3,017,318.24. The trade was a 25.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kelly Huller sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock valued at $8,512,850 in the last ninety days. 18.54% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding GMED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globus Medical, Inc. (NYSE:GMED - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.