Globus Medical, Inc. (NYSE:GMED) Shares Sold by Motley Fool Wealth Management LLC

Motley Fool Wealth Management LLC cut its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 26.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 200,404 shares of the medical device company's stock after selling 70,606 shares during the period. Motley Fool Wealth Management LLC owned approximately 0.15% of Globus Medical worth $14,337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. IHT Wealth Management LLC purchased a new position in Globus Medical in the third quarter valued at about $201,000. ArrowMark Colorado Holdings LLC bought a new position in shares of Globus Medical in the 3rd quarter worth about $43,947,000. Atom Investors LP increased its stake in Globus Medical by 126.0% during the 3rd quarter. Atom Investors LP now owns 43,557 shares of the medical device company's stock valued at $3,116,000 after purchasing an additional 24,288 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Globus Medical during the 3rd quarter valued at about $404,000. Finally, Edgestream Partners L.P. bought a new stake in Globus Medical during the 3rd quarter valued at about $1,541,000. 95.16% of the stock is owned by institutional investors.

Insider Transactions at Globus Medical

In other news, CEO Daniel T. Scavilla sold 60,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total transaction of $4,801,200.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kelly Huller sold 5,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total value of $405,050.00. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock valued at $8,512,850 in the last 90 days. 18.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on GMED. BTIG Research raised their price objective on shares of Globus Medical from $77.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Wells Fargo & Company raised their price objective on shares of Globus Medical from $78.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. Bank of America raised their price objective on shares of Globus Medical from $55.00 to $80.00 and gave the company an "underperform" rating in a research note on Wednesday, November 6th. StockNews.com lowered shares of Globus Medical from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada lifted their price target on shares of Globus Medical from $80.00 to $92.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Globus Medical has a consensus rating of "Moderate Buy" and a consensus price target of $89.73.

Globus Medical Price Performance

Shares of GMED traded down $1.00 on Wednesday, reaching $84.10. The company's stock had a trading volume of 347,611 shares, compared to its average volume of 1,000,926. The stock has a market capitalization of $11.45 billion, a P/E ratio of 127.01, a PEG ratio of 2.00 and a beta of 1.19. The stock's 50 day simple moving average is $76.80 and its two-hundred day simple moving average is $71.92. Globus Medical, Inc. has a 12-month low of $44.02 and a 12-month high of $87.22.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $604.69 million. During the same quarter in the prior year, the company earned $0.57 EPS. Globus Medical's quarterly revenue was up 63.1% on a year-over-year basis. Analysts expect that Globus Medical, Inc. will post 2.98 earnings per share for the current year.

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.