Globus Medical, Inc. (NYSE:GMED) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 297,569 shares of the medical device company's stock after selling 7,623 shares during the quarter. Rhumbline Advisers owned approximately 0.22% of Globus Medical worth $24,612,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Oak Thistle LLC purchased a new position in Globus Medical during the 4th quarter valued at about $376,000. Kathmere Capital Management LLC purchased a new position in Globus Medical during the 4th quarter valued at about $23,091,000. Quest Partners LLC purchased a new position in Globus Medical during the 3rd quarter valued at about $523,000. Intech Investment Management LLC grew its holdings in shares of Globus Medical by 291.3% during the third quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company's stock worth $1,469,000 after buying an additional 15,283 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Globus Medical during the third quarter worth about $2,709,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the business's stock in a transaction on 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 legal filing with the SEC, which is available through this hyperlink. Also, SVP Kelly Huller sold 2,500 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total transaction of $217,500.00. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by corporate insiders.

Globus Medical Stock Performance

Globus Medical stock traded down $4.17 during trading on Friday, reaching $79.96. The company had a trading volume of 2,043,956 shares, compared to its average volume of 1,265,287. Globus Medical, Inc. has a 12-month low of $49.33 and a 12-month high of $94.93. The stock's 50 day moving average price is $86.76 and its two-hundred day moving average price is $78.94. The firm has a market capitalization of $10.89 billion, a price-to-earnings ratio of 119.37, a PEG ratio of 1.60 and a beta of 1.19.

Globus Medical (NYSE:GMED - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.10. The firm had revenue of $657.29 million for 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 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GMED shares. Morgan Stanley upgraded shares of Globus Medical from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a report on Friday. StockNews.com upgraded shares of Globus Medical from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Roth Mkm lifted their price target on shares of Globus Medical from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, December 17th. Finally, BTIG Research lifted their price target on shares of Globus Medical from $87.00 to $91.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $96.91.

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.