Boston Trust Walden Corp Cuts Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Boston Trust Walden Corp reduced its holdings in Globus Medical, Inc. (NYSE:GMED - Free Report) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 729,924 shares of the medical device company's stock after selling 18,205 shares during the quarter. Boston Trust Walden Corp owned 0.54% of Globus Medical worth $52,219,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GMED. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Globus Medical by 2.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company's stock worth $403,000 after acquiring an additional 140 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Globus Medical by 15.9% during the second 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 in the last quarter. Van ECK Associates Corp lifted its stake in Globus Medical by 0.4% during the second quarter. Van ECK Associates Corp now owns 45,922 shares of the medical device company's stock worth $3,145,000 after purchasing an additional 183 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of 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 purchasing an additional 220 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Globus Medical by 1.5% during the 2nd quarter. AQR Capital Management LLC now owns 15,241 shares of the medical device company's stock valued at $1,044,000 after purchasing an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Globus Medical Trading Down 0.6 %

NYSE GMED traded down $0.47 on Friday, hitting $73.17. The company's stock had a trading volume of 420,464 shares, compared to its average volume of 687,592. Globus Medical, Inc. has a 52-week low of $43.38 and a 52-week high of $75.98. The firm has a market cap of $9.91 billion, a P/E ratio of 243.90, a PEG ratio of 2.02 and a beta of 1.17. The company's 50-day simple moving average is $71.13 and its 200 day simple moving average is $66.73.

Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The medical device company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.07. Globus Medical had a net margin of 1.82% and a return on equity of 8.70%. The business 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 business posted $0.63 earnings per share. The firm's revenue for the quarter was up 115.9% compared to the same quarter last year. On average, research analysts forecast that Globus Medical, Inc. will post 2.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank of Canada upped their target price on 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 reaffirmed a "hold" rating on shares of Globus Medical in a report on Wednesday, August 7th. Morgan Stanley boosted their price target on shares of Globus Medical from $67.00 to $71.00 and gave the stock an "equal weight" rating in a research note on Monday, July 15th. Wells Fargo & Company raised Globus Medical from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $60.00 to $78.00 in a research note on Wednesday, August 7th. Finally, Barclays lifted their price objective on Globus Medical from $85.00 to $93.00 and gave the stock an "overweight" rating in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Globus Medical presently has an average rating of "Moderate Buy" and an average price target of $77.78.

Insider Transactions at Globus Medical

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

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.