SG Americas Securities LLC Sells 8,188 Shares of Globus Medical, Inc. (NYSE:GMED)

SG Americas Securities LLC cut its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 67.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,937 shares of the medical device company's stock after selling 8,188 shares during the quarter. SG Americas Securities LLC's holdings in Globus Medical were worth $282,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its stake in Globus Medical by 15.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company's stock valued at $80,000 after purchasing an additional 160 shares during the last quarter. Van ECK Associates Corp increased its holdings in Globus Medical by 0.4% in the 2nd quarter. Van ECK Associates Corp now owns 45,922 shares of the medical device company's stock worth $3,145,000 after buying an additional 183 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in Globus Medical by 6.2% in the 3rd quarter. Central Pacific Bank Trust Division now owns 3,751 shares of the medical device company's stock worth $268,000 after buying an additional 220 shares in the last quarter. AQR Capital Management LLC raised its position in Globus Medical by 1.5% in the 2nd quarter. AQR Capital Management LLC now owns 15,241 shares of the medical device company's stock worth $1,044,000 after buying an additional 228 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Globus Medical by 12.7% during the 1st quarter. Covestor Ltd now owns 2,243 shares of the medical device company's stock valued at $120,000 after acquiring an additional 252 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

Insider Buying and Selling

In other Globus Medical news, Director David D. Davidar sold 30,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the completion of the sale, the director now directly owns 536,275 shares of the company's stock, valued at $40,242,076. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Ann D. Rhoads sold 15,000 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the sale, the director now directly owns 42,884 shares of the company's stock, valued at $3,017,318.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David D. Davidar sold 30,000 shares of the firm's stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the completion of the transaction, the director now directly owns 536,275 shares of the company's stock, valued at approximately $40,242,076. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GMED shares. Royal Bank of Canada lifted their price target on shares of Globus Medical from $78.00 to $80.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 8th. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research note on Wednesday, August 7th. Barclays increased their price target on Globus Medical from $85.00 to $93.00 and gave the company an "overweight" rating in a report on Thursday, August 8th. BTIG Research lifted their price objective on Globus Medical from $77.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Finally, Morgan Stanley increased their target price on Globus Medical from $67.00 to $71.00 and gave the company an "equal weight" rating in a report on Monday, July 15th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $77.78.

Globus Medical Stock Up 0.9 %

NYSE:GMED traded up $0.64 during trading hours on Monday, hitting $73.49. 606,148 shares of the stock traded hands, compared to its average volume of 1,002,910. The company has a market cap of $9.95 billion, a price-to-earnings ratio of 114.83, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. Globus Medical, Inc. has a 1 year low of $43.38 and a 1 year high of $75.98. The stock has a 50 day moving average price of $70.71 and a 200 day moving average price of $66.33.

Globus Medical (NYSE:GMED - Get Free Report) last released its earnings results on Tuesday, August 6th. The medical device company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.07. Globus Medical had a net margin of 1.82% and a return on equity of 8.70%. The company had revenue of $629.69 million for the quarter, compared to analysts' expectations of $615.33 million. During the same quarter in the previous year, the company earned $0.63 EPS. Globus Medical's revenue for the quarter was up 115.9% on a year-over-year basis. Equities analysts forecast that Globus Medical, Inc. will post 2.84 earnings per share for the current fiscal 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.