Globus Medical, Inc. (NYSE:GMED) Short Interest Down 12.8% in January

Globus Medical, Inc. (NYSE:GMED - Get Free Report) saw a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 2,180,000 shares, a decrease of 12.8% from the January 15th total of 2,500,000 shares. Based on an average trading volume of 1,140,000 shares, the days-to-cover ratio is presently 1.9 days.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Canaccord Genuity Group upped their price objective on Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Piper Sandler upped their price target on shares of Globus Medical from $80.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. Wells Fargo & Company dropped their price objective on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating for the company in a research note on Friday. Bank of America upgraded shares of Globus Medical from an "underperform" rating to a "neutral" rating and upped their target price for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Globus Medical currently has an average rating of "Moderate Buy" and a consensus target price of $96.91.

Insider Activity at Globus Medical

In related news, SVP Kelly Huller sold 2,500 shares of Globus Medical 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Keith W. Pfeil sold 14,167 shares of the company's stock in a transaction dated Friday, January 10th. The stock was 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. 18.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Globus Medical

Several large investors have recently bought and sold shares of the company. Burgundy Asset Management Ltd. lifted its stake in shares of Globus Medical by 1.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,618,108 shares of the medical device company's stock worth $216,544,000 after buying an additional 43,330 shares in the last quarter. PharVision Advisers LLC purchased a new position in Globus Medical in the 4th quarter worth approximately $339,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Globus Medical by 9.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 319,500 shares of the medical device company's stock worth $26,426,000 after purchasing an additional 28,330 shares in the last quarter. iSAM Funds UK Ltd acquired a new position in shares of Globus Medical during the 4th quarter worth approximately $256,000. Finally, Vestal Point Capital LP purchased a new stake in shares of Globus Medical in the fourth quarter valued at approximately $26,881,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Globus Medical Stock Down 4.4 %

Shares of NYSE:GMED traded down $3.69 during trading on Friday, reaching $80.43. 3,350,766 shares of the company's stock traded hands, compared to its average volume of 1,307,455. Globus Medical has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The company has a 50-day simple moving average of $86.76 and a 200-day simple moving average of $78.94. The firm has a market cap of $10.95 billion, a PE ratio of 120.04, a P/E/G ratio of 1.60 and a beta of 1.19.

Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.10. The firm had revenue of $657.29 million for the quarter, compared to analysts' expectations of $646.19 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. On average, equities research analysts forecast that Globus Medical will post 2.98 EPS for the current year.

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.