Natixis Advisors LLC Has $16.52 Million Position in Globus Medical, Inc. (NYSE:GMED)

Natixis Advisors LLC cut its stake in Globus Medical, Inc. (NYSE:GMED - Free Report) by 22.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 199,779 shares of the medical device company's stock after selling 57,964 shares during the period. Natixis Advisors LLC owned approximately 0.15% of Globus Medical worth $16,524,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GMED. Commonwealth Equity Services LLC grew its holdings in shares of Globus Medical by 11.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 7,787 shares of the medical device company's stock worth $644,000 after purchasing an additional 831 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in Globus Medical during the fourth quarter worth $4,246,000. Vestcor Inc increased its holdings in Globus Medical by 840.0% in the 4th quarter. Vestcor Inc now owns 16,084 shares of the medical device company's stock valued at $1,330,000 after buying an additional 14,373 shares during the period. Swiss National Bank raised its stake in shares of Globus Medical by 1.0% in the 4th quarter. Swiss National Bank now owns 222,177 shares of the medical device company's stock valued at $18,376,000 after buying an additional 2,200 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of Globus Medical by 14.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 20,462 shares of the medical device company's stock worth $1,692,000 after acquiring an additional 2,534 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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Globus Medical Price Performance

Shares of GMED stock traded down $0.25 during trading hours on Friday, reaching $73.67. 2,666,907 shares of the company were exchanged, compared to its average volume of 993,706. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The stock's fifty day moving average is $83.61 and its two-hundred day moving average is $79.71. The company has a market cap of $10.13 billion, a price-to-earnings ratio of 98.22, a P/E/G ratio of 1.61 and a beta of 1.19.

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

Insiders Place Their Bets

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 18.54% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on GMED. Morgan Stanley upgraded shares of Globus Medical from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. Canaccord Genuity Group boosted their price target on Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research report on Tuesday. Roth Mkm lifted their price objective on Globus Medical from $100.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, December 17th. Finally, BTIG Research upped their target price on shares of Globus Medical from $87.00 to $91.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $97.09.

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.