Boston Trust Walden Corp Decreases Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Boston Trust Walden Corp cut its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 15.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 619,652 shares of the medical device company's stock after selling 110,272 shares during the quarter. Boston Trust Walden Corp owned 0.46% of Globus Medical worth $51,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Globus Medical in the third quarter worth $27,000. Quarry LP boosted its holdings in Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company's stock valued at $35,000 after acquiring an additional 433 shares during the last quarter. Farther Finance Advisors LLC increased its position 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 purchasing an additional 385 shares during the period. UMB Bank n.a. raised its holdings in Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock worth $45,000 after purchasing an additional 206 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Globus Medical by 40.7% in the 3rd quarter. GAMMA Investing LLC now owns 888 shares of the medical device company's stock worth $64,000 after purchasing an additional 257 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of the firm'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 document filed with the SEC, which is available at the SEC website. Also, CFO Keith W. Pfeil sold 14,167 shares of the business's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by corporate insiders.

Globus Medical Stock Down 4.7 %

GMED stock traded down $4.32 during mid-day trading on Thursday, reaching $88.08. 4,419,726 shares of the company traded hands, compared to its average volume of 1,342,903. The firm's 50 day moving average price is $86.47 and its 200 day moving average price is $77.96. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 131.47, a P/E/G ratio of 1.78 and a beta of 1.19. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on GMED shares. StockNews.com lowered Globus Medical from a "buy" rating to a "hold" rating in a research report on Thursday. BTIG Research lifted their target price on Globus Medical from $87.00 to $91.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Royal Bank of Canada increased their price target on Globus Medical from $80.00 to $92.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. 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 report on Wednesday, November 6th. Finally, Morgan Stanley raised shares of Globus Medical from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $96.91.

About Globus Medical

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.