Candriam S.C.A. Cuts Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Candriam S.C.A. trimmed its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 8.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,923 shares of the medical device company's stock after selling 9,766 shares during the quarter. Candriam S.C.A. owned 0.08% of Globus Medical worth $8,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Oak Thistle LLC purchased a new position in Globus Medical during the 4th quarter worth $376,000. bLong Financial LLC bought a new stake in shares of Globus Medical during the 4th quarter worth $397,000. Kathmere Capital Management LLC bought a new stake in shares of Globus Medical during the 4th quarter worth $23,091,000. Quest Partners LLC bought a new stake in shares of Globus Medical during the 3rd quarter worth $523,000. Finally, Intech Investment Management LLC raised its stake in shares of Globus Medical by 291.3% during the 3rd quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company's stock worth $1,469,000 after purchasing an additional 15,283 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Keith W. Pfeil sold 14,167 shares of the business's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 18.54% of the company's stock.

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Globus Medical Price Performance

Shares of GMED traded down $2.07 during midday trading on Tuesday, hitting $73.39. 2,067,373 shares of the company traded hands, compared to its average volume of 1,305,791. The stock has a 50-day moving average of $85.75 and a 200-day moving average of $79.81. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The firm has a market cap of $10.09 billion, a P/E ratio of 97.85, a PEG ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The firm had revenue of $657.29 million for the quarter, compared to analysts' expectations of $646.19 million. Sell-side analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. BTIG Research lifted their target price on Globus Medical from $87.00 to $91.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Morgan Stanley upgraded Globus Medical from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. Truist Financial boosted their price objective on Globus Medical from $85.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, December 18th. Finally, Needham & Company LLC restated a "hold" rating on shares of Globus Medical in a research note on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $97.82.

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.