Pembroke Management LTD Has $46.31 Million Position in Globus Medical, Inc. (NYSE:GMED)

Pembroke Management LTD lowered its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 559,909 shares of the medical device company's stock after selling 8,800 shares during the quarter. Globus Medical comprises 5.9% of Pembroke Management LTD's portfolio, making the stock its largest position. Pembroke Management LTD owned approximately 0.41% of Globus Medical worth $46,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in Globus Medical during the third quarter worth about $27,000. Quarry LP boosted its stake in Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company's stock worth $35,000 after acquiring an additional 433 shares in the last quarter. UMB Bank n.a. boosted its stake in Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock worth $45,000 after acquiring an additional 206 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company's stock worth $39,000 after acquiring an additional 385 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Globus Medical by 41.7% during the fourth quarter. GAMMA Investing LLC now owns 1,258 shares of the medical device company's stock worth $104,000 after acquiring an additional 370 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Globus Medical from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. BTIG Research upped 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. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research note on Friday. Truist Financial upped their target price on shares of Globus Medical from $85.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday, December 18th. Finally, Stifel Nicolaus upped their target price on shares of Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $96.91.

Insider Transactions at Globus Medical

In other news, SVP Kelly Huller sold 2,500 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total value of $217,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The disclosure for this sale can be found here. Corporate insiders own 18.54% of the company's stock.

Globus Medical Trading Down 4.4 %

GMED stock traded down $3.69 during midday trading on Friday, reaching $80.43. 3,350,766 shares of the company's stock traded hands, compared to its average volume of 1,307,455. Globus Medical, Inc. has a 52-week low of $49.33 and a 52-week high of $94.93. The stock has a market cap of $10.95 billion, a P/E ratio of 120.04, a PEG ratio of 1.60 and a beta of 1.19. The stock's 50-day moving average is $86.76 and its 200 day moving average is $78.94.

Globus Medical (NYSE:GMED - Get Free Report) last announced its earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.10. The business had revenue of $657.29 million during the quarter, compared to analysts' expectations of $646.19 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. As a group, research analysts expect that Globus Medical, Inc. will post 2.98 EPS for the current fiscal year.

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.