Charles Schwab Investment Management Inc. Sells 17,388 Shares of Globus Medical, Inc. (NYSE:GMED)

Charles Schwab Investment Management Inc. trimmed its stake in Globus Medical, Inc. (NYSE:GMED - Free Report) by 1.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,221,215 shares of the medical device company's stock after selling 17,388 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.90% of Globus Medical worth $101,007,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GMED. State Street Corp lifted its position in shares of Globus Medical by 2.3% in the 3rd quarter. State Street Corp now owns 3,570,726 shares of the medical device company's stock valued at $255,450,000 after acquiring an additional 81,371 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Globus Medical by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company's stock valued at $134,893,000 after purchasing an additional 21,935 shares in the last quarter. Geneva Capital Management LLC boosted its position in shares of Globus Medical by 1.1% in the third quarter. Geneva Capital Management LLC now owns 1,598,130 shares of the medical device company's stock worth $114,330,000 after buying an additional 18,117 shares during the period. Parsifal Capital Management LP boosted its position in shares of Globus Medical by 50.5% in the third quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company's stock worth $96,619,000 after buying an additional 453,053 shares during the period. Finally, ArrowMark Colorado Holdings LLC purchased a new position in shares of Globus Medical during the third quarter valued at $43,947,000. 95.16% of the stock is owned by institutional investors and hedge funds.

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Globus Medical Price Performance

Shares of NYSE GMED traded down $1.69 during trading hours on Thursday, hitting $69.61. 1,600,142 shares of the stock were exchanged, compared to its average volume of 1,331,894. The firm has a market capitalization of $9.57 billion, a P/E ratio of 92.81, a P/E/G ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The company's 50 day moving average is $85.34 and its 200 day moving average is $79.76.

Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $657.29 million during the quarter, compared to analysts' expectations of $646.19 million. Research analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Transactions at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the business's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 18.54% of the company's stock.

Analysts Set New Price Targets

GMED has been the subject of a number of research reports. StockNews.com upgraded Globus Medical from a "hold" rating to a "buy" rating in a research report on Thursday. BTIG Research raised their price target 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. Bank of America upgraded shares of Globus Medical from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research report on Friday, February 21st. Finally, Barclays boosted their price target on shares of Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, Globus Medical currently has a consensus rating of "Moderate Buy" and an average target price of $97.82.

Globus Medical Company 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.