Lisanti Capital Growth LLC Sells 6,575 Shares of Globus Medical, Inc. (NYSE:GMED)

Lisanti Capital Growth LLC trimmed its position in Globus Medical, Inc. (NYSE:GMED - Free Report) by 26.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,340 shares of the medical device company's stock after selling 6,575 shares during the quarter. Lisanti Capital Growth LLC's holdings in Globus Medical were worth $1,517,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Creative Planning lifted its stake in Globus Medical by 5.1% in the 3rd quarter. Creative Planning now owns 6,471 shares of the medical device company's stock worth $463,000 after purchasing an additional 314 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Globus Medical by 16.4% in the third quarter. Private Advisor Group LLC now owns 4,236 shares of the medical device company's stock worth $303,000 after buying an additional 598 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Globus Medical by 2.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company's stock worth $403,000 after buying an additional 140 shares in the last quarter. Stephens Inc. AR boosted its stake in Globus Medical by 3.4% during the third quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company's stock valued at $303,000 after buying an additional 138 shares during the period. Finally, Farther Finance Advisors LLC grew its position in Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company's stock worth $39,000 after buying an additional 385 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

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Globus Medical Trading Down 2.7 %

Shares of NYSE:GMED traded down $2.07 on Tuesday, reaching $73.39. 2,067,673 shares of the company traded hands, compared to its average volume of 1,305,791. The stock has a market capitalization of $10.09 billion, a P/E ratio of 97.85, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The business's 50-day simple moving average is $85.75 and its 200 day simple moving average is $79.81. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93.

Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings results 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. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The business had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. Sell-side analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Insider Activity at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was 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 hyperlink. 18.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GMED. Canaccord Genuity Group raised their price target on Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a report on Friday, January 10th. Roth Mkm raised their target price 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. Wells Fargo & Company cut their price target on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Morgan Stanley upgraded shares of Globus Medical from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $83.00 to $100.00 in a research report on Monday, December 2nd. 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 research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $97.82.

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.