Godshalk Welsh Capital Management Inc. Has $4.55 Million Stake in Globus Medical, Inc. (NYSE:GMED)

Godshalk Welsh Capital Management Inc. cut its stake in Globus Medical, Inc. (NYSE:GMED - Free Report) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,000 shares of the medical device company's stock after selling 7,320 shares during the period. Globus Medical comprises approximately 2.9% of Godshalk Welsh Capital Management Inc.'s portfolio, making the stock its 6th largest position. Godshalk Welsh Capital Management Inc.'s holdings in Globus Medical were worth $4,549,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GMED. SBI Securities Co. Ltd. acquired a new position in shares of Globus Medical in the fourth quarter valued at approximately $27,000. Quarry LP raised its stake in Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company's stock valued at $35,000 after purchasing an additional 433 shares during the last quarter. UMB Bank n.a. lifted its holdings in Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock valued at $45,000 after purchasing an additional 206 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company's stock worth $48,000 after purchasing an additional 197 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Globus Medical by 24.7% during the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company's stock worth $55,000 after buying an additional 132 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Globus Medical Stock Performance

Shares of Globus Medical stock traded up $0.42 during trading on Monday, reaching $72.97. The company had a trading volume of 197,041 shares, compared to its average volume of 1,021,256. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The firm's fifty day moving average is $82.14 and its 200-day moving average is $80.00. The company has a market cap of $10.04 billion, a price-to-earnings ratio of 97.47, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $657.29 million for the quarter, compared to analysts' expectations of $646.19 million. On average, research analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction dated 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 SEC, which is available at the SEC website. 18.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Bank of America raised Globus Medical from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. StockNews.com cut shares of Globus Medical from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Morgan Stanley raised shares of Globus Medical from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $83.00 to $100.00 in a report on Monday, December 2nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research note on Tuesday, March 18th. Finally, Roth Mkm upped their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $97.09.

About Globus Medical

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.