Banque Pictet & Cie SA Sells 7,278 Shares of Globus Medical, Inc. (NYSE:GMED)

Banque Pictet & Cie SA reduced its stake in Globus Medical, Inc. (NYSE:GMED - Free Report) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,953 shares of the medical device company's stock after selling 7,278 shares during the quarter. Banque Pictet & Cie SA owned about 0.06% of Globus Medical worth $6,530,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in Globus Medical in the 3rd quarter worth approximately $27,000. Quarry LP raised its holdings in Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company's stock worth $35,000 after acquiring an additional 433 shares during the last quarter. UMB Bank n.a. raised its holdings in Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock worth $45,000 after acquiring an additional 206 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company's stock valued at $39,000 after buying an additional 385 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Globus Medical by 41.7% during the 4th quarter. GAMMA Investing LLC now owns 1,258 shares of the medical device company's stock valued at $104,000 after buying an additional 370 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Kelly Huller sold 2,500 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total value of $217,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith W. Pfeil sold 14,167 shares of the company's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GMED shares. Stifel Nicolaus boosted their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Bank of America upgraded shares of Globus Medical from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Morgan Stanley upgraded shares of Globus Medical from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $83.00 to $100.00 in a research note on Monday, December 2nd. BTIG Research boosted their target price on shares of Globus Medical from $87.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Finally, Canaccord Genuity Group boosted their target price on shares of Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $96.91.

Globus Medical Trading Up 0.9 %

Globus Medical stock traded up $0.79 during mid-day trading on Tuesday, hitting $84.72. The stock had a trading volume of 858,412 shares, compared to its average volume of 1,248,531. The firm has a market capitalization of $11.54 billion, a P/E ratio of 126.45, a P/E/G ratio of 1.68 and a beta of 1.19. The firm's 50 day moving average is $86.67 and its 200 day moving average is $78.76. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93.

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.