Globus Medical, Inc. (NYSE:GMED) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC trimmed its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 43.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,079 shares of the medical device company's stock after selling 10,682 shares during the quarter. Cannell & Spears LLC's holdings in Globus Medical were worth $1,164,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in 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 worth $898,548,000 after buying an additional 240,218 shares during the period. State Street Corp grew its stake in 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 worth $255,450,000 after acquiring an additional 81,371 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Globus Medical by 7.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,804,330 shares of the medical device company's stock worth $231,946,000 after acquiring an additional 199,556 shares during the period. Geode Capital Management LLC raised its stake in shares of Globus Medical by 1.2% during 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 acquiring an additional 21,935 shares in the last quarter. Finally, Geneva Capital Management LLC boosted its holdings in shares of Globus Medical by 13.6% in the fourth quarter. Geneva Capital Management LLC now owns 1,815,837 shares of the medical device company's stock valued at $150,188,000 after purchasing an additional 217,707 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Price Performance

Globus Medical stock traded down $3.01 during mid-day trading on Friday, reaching $69.01. 2,057,719 shares of the company traded hands, compared to its average volume of 1,029,888. The firm's fifty day moving average is $80.17 and its two-hundred day moving average is $80.03. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 92.01, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93.

Globus Medical (NYSE:GMED - Get Free Report) last released its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) 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 the consensus estimate of $646.19 million. As a group, equities research analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial decreased their target price on Globus Medical from $90.00 to $82.00 and set a "hold" rating for the company in a research report on Tuesday, March 18th. StockNews.com downgraded Globus Medical from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Barclays increased their target price on shares of Globus Medical from $100.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Wells Fargo & Company reduced their price target on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Finally, Roth Mkm increased their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.09.

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 value of $1,250,804.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.