Globus Medical, Inc. (NYSE:GMED) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 18.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,492 shares of the medical device company's stock after selling 3,464 shares during the quarter. Janney Montgomery Scott LLC's holdings in Globus Medical were worth $1,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fort Washington Investment Advisors Inc. OH grew its position in shares of Globus Medical by 0.3% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 415,241 shares of the medical device company's stock valued at $34,345,000 after purchasing an additional 1,130 shares during the last quarter. Atomi Financial Group Inc. grew its position in shares of Globus Medical by 41.9% in the fourth quarter. Atomi Financial Group Inc. now owns 5,120 shares of the medical device company's stock valued at $423,000 after purchasing an additional 1,512 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Globus Medical by 3.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 8,051 shares of the medical device company's stock valued at $666,000 after purchasing an additional 301 shares during the last quarter. UMB Bank n.a. grew its position in shares of Globus Medical by 60.2% in the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock valued at $45,000 after purchasing an additional 206 shares during the last quarter. Finally, Artemis Investment Management LLP grew its position in shares of Globus Medical by 20.6% in the fourth quarter. Artemis Investment Management LLP now owns 516,887 shares of the medical device company's stock valued at $42,752,000 after purchasing an additional 88,368 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Globus Medical

In related news, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $87.00, for a total transaction of $217,500.00. The disclosure for this sale can be found here. Insiders own 18.54% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GMED. Bank of America raised shares of Globus Medical from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. BTIG Research upped their price objective on shares of Globus Medical from $87.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Piper Sandler upped their price objective 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. Truist Financial upped their price objective on shares of Globus Medical from $85.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, December 18th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Globus Medical in a research note on Thursday. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.91.

Globus Medical Price Performance

GMED traded down $0.35 during trading hours on Friday, reaching $87.60. 1,211,960 shares of the stock traded hands, compared to its average volume of 1,363,054. The firm's fifty day simple moving average is $86.56 and its two-hundred day simple moving average is $78.13. The company has a market cap of $11.93 billion, a price-to-earnings ratio of 130.75, a PEG ratio of 1.68 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 announced its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The company had revenue of $625.71 million during the quarter, compared to analyst estimates of $604.69 million. During the same period last year, the business earned $0.57 EPS. The firm's revenue for the quarter was up 63.1% compared to the same quarter last year. On average, research analysts predict that Globus Medical, Inc. will post 2.97 earnings per share for the current year.

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.