Globus Medical, Inc. (NYSE:GMED) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC decreased its stake in Globus Medical, Inc. (NYSE:GMED - Free Report) by 21.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,232,643 shares of the medical device company's stock after selling 344,020 shares during the period. William Blair Investment Management LLC owned 0.91% of Globus Medical worth $101,952,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GMED. KBC Group NV boosted its stake in Globus Medical by 0.5% in the third quarter. KBC Group NV now owns 45,505 shares of the medical device company's stock valued at $3,255,000 after acquiring an additional 237 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Globus Medical in the 3rd quarter valued at about $523,000. Pathstone Holdings LLC boosted its position in shares of Globus Medical by 2.6% in the 3rd quarter. Pathstone Holdings LLC now owns 41,007 shares of the medical device company's stock valued at $2,934,000 after purchasing an additional 1,055 shares during the period. Segall Bryant & Hamill LLC grew its stake in Globus Medical by 7.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 387,737 shares of the medical device company's stock worth $27,739,000 after buying an additional 26,047 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in Globus Medical by 291.3% during the third quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company's stock worth $1,469,000 after buying an additional 15,283 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group increased their price objective on Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a report on Friday, January 10th. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research note on Tuesday. Truist Financial dropped their price objective on shares of Globus Medical from $90.00 to $82.00 and set a "hold" rating on the stock in a research note on Tuesday. BTIG Research increased their target price on shares of Globus Medical from $87.00 to $91.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Finally, Roth Mkm raised their price target on Globus Medical from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.09.

Insider Activity

In related news, CFO Keith W. Pfeil sold 14,167 shares of the business's 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 18.54% of the company's stock.

Globus Medical Stock Down 0.3 %

GMED stock traded down $0.25 on Friday, reaching $73.67. 2,666,907 shares of the company's stock were exchanged, compared to its average volume of 1,349,506. The stock has a fifty day moving average of $83.88 and a 200-day moving average of $79.71. The firm has a market cap of $10.13 billion, a PE ratio of 98.22, a P/E/G ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month 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 for the quarter, topping analysts' consensus estimates of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The business had revenue of $657.29 million for the quarter, compared to analysts' expectations of $646.19 million. On average, equities research analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

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.