Motley Fool Asset Management LLC Sells 44,942 Shares of Globus Medical, Inc. (NYSE:GMED)

Motley Fool Asset Management LLC trimmed its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 22.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,208 shares of the medical device company's stock after selling 44,942 shares during the quarter. Motley Fool Asset Management LLC owned 0.12% of Globus Medical worth $10,997,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Globus Medical

In related news, Director Ann D. Rhoads sold 15,000 shares of the company's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $70.36, for a total value of $1,055,400.00. Following the transaction, the director now owns 42,884 shares in the company, valued at $3,017,318.24. The trade was a 25.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kelly Huller sold 5,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were 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 a total of 112,500 shares of company stock valued at $8,730,350 in the last 90 days. Corporate insiders own 18.54% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on GMED shares. Roth Mkm reaffirmed a "buy" rating and set a $100.00 target price on shares of Globus Medical in a report on Wednesday, November 6th. Stifel Nicolaus upped their price target on Globus Medical from $80.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. BTIG Research upped their target price on Globus Medical from $77.00 to $78.00 and gave the company a "buy" rating in a report on Monday, October 14th. StockNews.com lowered shares of Globus Medical from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company upped 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $89.73.

Globus Medical Stock Down 0.8 %

GMED traded down $0.71 during trading on Wednesday, reaching $84.39. 680,488 shares of the company were exchanged, compared to its average volume of 1,001,132. The company's 50-day moving average is $76.80 and its two-hundred day moving average is $71.92. Globus Medical, Inc. has a 12-month low of $44.02 and a 12-month high of $87.22. The company has a market cap of $11.49 billion, a price-to-earnings ratio of 127.01, a P/E/G ratio of 2.00 and a beta of 1.19.

Globus Medical (NYSE:GMED - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The firm had revenue of $625.71 million for the quarter, compared to the consensus estimate of $604.69 million. During the same period in the prior year, the firm posted $0.57 earnings per share. The company's revenue for the quarter was up 63.1% on a year-over-year basis. Equities analysts forecast that Globus Medical, Inc. will post 2.98 earnings per share for the current 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.