Globus Medical, Inc. (NYSE:GMED) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lessened its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 69.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 173,766 shares of the medical device company's stock after selling 393,152 shares during the period. ExodusPoint Capital Management LP owned approximately 0.13% of Globus Medical worth $14,372,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GMED. Vanguard Group Inc. increased its position in shares of Globus Medical by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 10,863,834 shares of the medical device company's stock valued at $898,548,000 after acquiring an additional 240,218 shares during the period. State Street Corp grew its stake in Globus Medical by 2.3% during 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 purchasing an additional 81,371 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Globus Medical by 7.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,804,330 shares of the medical device company's stock valued at $231,946,000 after purchasing an additional 199,556 shares during the period. Geode Capital Management LLC raised its stake in shares of Globus Medical by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,897,212 shares of the medical device company's stock worth $156,969,000 after purchasing an additional 12,151 shares during the last quarter. Finally, Geneva Capital Management LLC lifted its holdings in shares of Globus Medical by 13.6% during the fourth quarter. Geneva Capital Management LLC now owns 1,815,837 shares of the medical device company's stock worth $150,188,000 after purchasing an additional 217,707 shares during the period. Institutional investors and hedge funds own 95.16% of the company's stock.

Globus Medical Stock Up 8.2 %

Shares of Globus Medical stock traded up $5.60 on Wednesday, reaching $74.24. The company's stock had a trading volume of 2,211,458 shares, compared to its average volume of 1,039,238. Globus Medical, Inc. has a 52-week low of $49.33 and a 52-week high of $94.93. The company has a market capitalization of $10.21 billion, a P/E ratio of 98.99, a PEG ratio of 1.61 and a beta of 1.28. The stock has a 50-day moving average price of $78.02 and a 200-day moving average price of $79.99.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on GMED shares. Barclays raised their price target on shares of Globus Medical from $100.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Canaccord Genuity Group boosted their target price on shares of Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a research report on Friday, January 10th. BTIG Research increased their price target on Globus Medical from $87.00 to $91.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Needham & Company LLC reissued a "hold" rating on shares of Globus Medical in a report on Tuesday, March 18th. Finally, Stifel Nicolaus upped their target price on Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $97.09.

Insiders Place Their Bets

In other news, CFO Keith W. Pfeil sold 14,167 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 18.54% of the stock is owned by company insiders.

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.