Diversified Trust Co Sells 5,935 Shares of Globus Medical, Inc. (NYSE:GMED)

Diversified Trust Co decreased its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 31.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,811 shares of the medical device company's stock after selling 5,935 shares during the period. Diversified Trust Co's holdings in Globus Medical were worth $1,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Everence Capital Management Inc. bought a new position in Globus Medical in the fourth quarter valued at about $204,000. GAMMA Investing LLC grew its holdings in shares of Globus Medical by 41.7% during the 4th quarter. GAMMA Investing LLC now owns 1,258 shares of the medical device company's stock valued at $104,000 after purchasing an additional 370 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Globus Medical during the 3rd quarter worth approximately $37,948,000. Franklin Resources Inc. bought a new position in Globus Medical in the 3rd quarter valued at approximately $3,833,000. Finally, Synovus Financial Corp boosted its position in Globus Medical by 9.8% in the third quarter. Synovus Financial Corp now owns 14,311 shares of the medical device company's stock valued at $1,024,000 after buying an additional 1,281 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

Globus Medical Trading Up 3.5 %

GMED stock traded up $2.89 during mid-day trading on Thursday, reaching $86.34. The company's stock had a trading volume of 1,473,717 shares, compared to its average volume of 993,656. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $87.22. The business's 50 day moving average price is $82.81 and its 200 day moving average price is $75.02. The company has a market cap of $11.76 billion, a price-to-earnings ratio of 128.87, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19.

Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.18. The company had revenue of $625.71 million during 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%. Globus Medical's revenue for the quarter was up 63.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. As a group, equities analysts expect that Globus Medical, Inc. will post 2.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. BTIG Research increased their price target on Globus Medical from $87.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Truist Financial boosted their price target on Globus Medical from $85.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, December 18th. Stifel Nicolaus raised their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Needham & Company LLC reissued a "hold" rating on shares of Globus Medical in a report on Thursday. Finally, Morgan Stanley raised shares of Globus Medical from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $83.00 to $100.00 in a research note on Monday, December 2nd. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Globus Medical has an average rating of "Moderate Buy" and a consensus price target of $96.09.

Insider Buying and Selling

In related news, Director David D. Davidar sold 30,000 shares of Globus Medical stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the transaction, the director now owns 536,275 shares of the company's stock, valued at $40,242,076. The trade was a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kelly Huller sold 2,500 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,500 shares of company stock valued at $7,674,950. 18.54% of the stock is owned by company insiders.

About Globus Medical

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.