Globus Medical, Inc. (NYSE:GMED) Shares Sold by River Global Investors LLP

River Global Investors LLP cut its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 39.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,547 shares of the medical device company's stock after selling 18,520 shares during the period. River Global Investors LLP's holdings in Globus Medical were worth $2,362,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in Globus Medical in the 4th quarter valued at about $27,000. Quarry LP grew its holdings in shares of Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company's stock valued at $35,000 after purchasing an additional 433 shares in the last quarter. UMB Bank n.a. increased its stake in Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock worth $45,000 after buying an additional 206 shares during the period. Farther Finance Advisors LLC increased its stake in Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company's stock worth $39,000 after buying an additional 385 shares during the period. Finally, V Square Quantitative Management LLC lifted its holdings in Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company's stock worth $48,000 after buying an additional 197 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

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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 that occurred on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 18.54% of the stock is currently owned by company insiders.

Globus Medical Stock Performance

Shares of GMED stock traded down $2.29 during mid-day trading on Wednesday, hitting $71.20. 2,469,007 shares of the stock were exchanged, compared to its average volume of 1,330,547. Globus Medical, Inc. has a 12-month low of $49.33 and a 12-month high of $94.93. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of 94.93, a P/E/G ratio of 1.61 and a beta of 1.19. The stock's fifty day simple moving average is $85.57 and its two-hundred day simple moving average is $79.82.

Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.74 by $0.10. The company had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. On average, research analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Bank of America raised Globus Medical from an "underperform" rating to a "neutral" rating and increased their price target for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Roth Mkm boosted their price objective on Globus Medical from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, December 17th. 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 research note on Monday, December 2nd. Finally, Wells Fargo & Company dropped their price objective on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $97.82.

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.