Cambiar Investors LLC Sells 3,380 Shares of Globus Medical, Inc. (NYSE:GMED)

Cambiar Investors LLC trimmed its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 7.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,325 shares of the medical device company's stock after selling 3,380 shares during the quarter. Cambiar Investors LLC's holdings in Globus Medical were worth $3,253,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GMED. Creative Planning raised its position in shares of Globus Medical by 16.8% during the 2nd quarter. Creative Planning now owns 6,157 shares of the medical device company's stock worth $422,000 after buying an additional 886 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Globus Medical in the 2nd quarter worth approximately $611,000. GAMMA Investing LLC raised its holdings 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 in the last quarter. Swedbank AB raised its holdings in shares of Globus Medical by 6.7% in the 3rd quarter. Swedbank AB now owns 400,000 shares of the medical device company's stock worth $28,616,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Orin Green Financial LLC bought a new stake in shares of Globus Medical in the 3rd quarter worth approximately $215,000. 95.16% of the stock is currently owned by institutional investors.

Insider Transactions at Globus Medical

In other news, SVP Kelly Huller sold 2,500 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total transaction of $217,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Keith W. Pfeil sold 14,167 shares of the 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 company insiders.

Globus Medical Price Performance

Globus Medical stock traded down $0.14 during trading hours on Friday, hitting $83.99. The company had a trading volume of 671,673 shares, compared to its average volume of 1,273,549. The firm's fifty day moving average is $86.63 and its 200-day moving average is $78.48. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The firm has a market capitalization of $11.44 billion, a P/E ratio of 125.36, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GMED shares. Piper Sandler boosted their target price on shares of Globus Medical from $80.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. Truist Financial boosted their target price on shares of Globus Medical from $85.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, December 18th. BTIG Research boosted their target price on shares of Globus Medical from $87.00 to $91.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a report on Thursday, February 6th. Finally, Roth Mkm boosted their price target on shares of Globus Medical from $100.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.