Exchange Traded Concepts LLC Sells 26,891 Shares of Globus Medical, Inc. (NYSE:GMED)

Exchange Traded Concepts LLC trimmed its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 14.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,425 shares of the medical device company's stock after selling 26,891 shares during the period. Exchange Traded Concepts LLC owned 0.12% of Globus Medical worth $13,600,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Coldstream Capital Management Inc. grew its stake in shares of Globus Medical by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company's stock valued at $447,000 after purchasing an additional 131 shares during the last quarter. Stephens Inc. AR increased its stake in shares of Globus Medical by 3.4% in the 3rd quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company's stock valued at $303,000 after buying an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Globus Medical by 2.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company's stock valued at $403,000 after buying an additional 140 shares during the period. UMB Bank n.a. raised its position in shares of Globus Medical by 60.2% during the fourth 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. Finally, Central Pacific Bank Trust Division lifted its stake in shares of Globus Medical by 6.2% during the third quarter. Central Pacific Bank Trust Division now owns 3,751 shares of the medical device company's stock valued at $268,000 after acquiring an additional 220 shares during the period. Institutional investors own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

GMED has been the subject of a number of recent research reports. Bank of America raised shares of Globus Medical from an "underperform" rating to a "neutral" rating and boosted their price target for the stock 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 Thursday, January 9th. Royal Bank of Canada raised their price target on Globus Medical from $80.00 to $92.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Morgan Stanley upgraded Globus Medical from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $83.00 to $100.00 in a report on Monday, December 2nd. Finally, Piper Sandler raised their target price on Globus Medical from $80.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Globus Medical presently has an average rating of "Moderate Buy" and an average target price of $96.91.

Globus Medical Trading Up 0.4 %

Shares of NYSE:GMED traded up $0.40 during trading on Friday, hitting $92.82. 890,447 shares of the company's stock traded hands, compared to its average volume of 1,343,489. The company has a 50-day moving average price of $84.87 and a 200-day moving average price of $76.56. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $93.67. The company has a market cap of $12.64 billion, a price-to-earnings ratio of 138.53, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19.

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

Insider Transactions at Globus Medical

In other news, SVP Kelly Huller sold 5,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total transaction of $405,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical 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. Insiders sold 81,667 shares of company stock valued at $6,674,554 over the last three months. Company insiders own 18.54% of the company's stock.

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.