Vaughan Nelson Investment Management L.P. Trims Stock Position in Globus Medical, Inc. (NYSE:GMED)

Vaughan Nelson Investment Management L.P. trimmed its holdings in Globus Medical, Inc. (NYSE:GMED - Free Report) by 35.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 679,592 shares of the medical device company's stock after selling 379,880 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.50% of Globus Medical worth $56,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Empowered Funds LLC purchased a new position in shares of Globus Medical in the fourth quarter valued at $6,404,000. Choreo LLC grew its stake in Globus Medical by 8.4% during the fourth quarter. Choreo LLC now owns 9,284 shares of the medical device company's stock valued at $768,000 after acquiring an additional 716 shares in the last quarter. Retirement Systems of Alabama increased its holdings in Globus Medical by 107.5% during the 4th quarter. Retirement Systems of Alabama now owns 284,736 shares of the medical device company's stock worth $23,551,000 after acquiring an additional 147,496 shares during the period. Mather Group LLC. lifted its stake in Globus Medical by 16.3% in the 4th quarter. Mather Group LLC. now owns 1,356 shares of the medical device company's stock worth $112,000 after purchasing an additional 190 shares in the last quarter. Finally, Berry Wealth Group LP grew its position in shares of Globus Medical by 5.1% during the 4th quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company's stock valued at $282,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 95.16% of the company's stock.

Globus Medical Trading Down 0.3 %

Shares of GMED stock traded down $0.25 during trading hours on Wednesday, reaching $84.03. The company's stock had a trading volume of 913,510 shares, compared to its average volume of 1,295,174. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The stock has a market capitalization of $11.44 billion, a P/E ratio of 125.42, a P/E/G ratio of 1.68 and a beta of 1.19. The firm's fifty day simple moving average is $86.62 and its 200 day simple moving average is $78.40.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group lifted their price objective on Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Bank of America upgraded shares of Globus Medical from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Truist Financial increased their price target on shares of Globus Medical from $85.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, December 18th. StockNews.com cut Globus Medical from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $96.91.

Insiders Place Their Bets

In related news, SVP Kelly Huller sold 2,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total transaction of $217,500.00. The sale was disclosed in a 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 that occurred 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 disclosure for this sale can be found here. Company 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.