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

Vestcor Inc trimmed its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 82.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,711 shares of the medical device company's stock after selling 8,059 shares during the quarter. Vestcor Inc's holdings in Globus Medical were worth $122,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Stephens Inc. AR boosted its stake in Globus Medical by 3.4% during the third quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company's stock worth $303,000 after buying an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in 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 valued at $403,000 after purchasing an additional 140 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings 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 raised its position 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 purchasing an additional 183 shares during the period. Finally, Central Pacific Bank Trust Division lifted its stake in Globus Medical by 6.2% in the third 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 during the last quarter. Institutional investors own 95.16% of the company's stock.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David D. Davidar sold 30,000 shares of the company's stock in a transaction dated 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 transaction, the director now owns 536,275 shares in the company, valued at approximately $40,242,076. This trade represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,500 shares of company stock worth $7,674,950 over the last quarter. Insiders own 18.54% of the company's stock.

Globus Medical Trading Down 0.4 %

Shares of GMED traded down $0.29 during mid-day trading on Friday, hitting $82.42. The company's stock had a trading volume of 990,293 shares, compared to its average volume of 992,817. The company's 50-day moving average is $78.81 and its 200-day moving average is $72.83. Globus Medical, Inc. has a 52-week low of $49.14 and a 52-week high of $87.22. The firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of 123.01, a PEG ratio of 1.99 and a beta of 1.19.

Globus Medical (NYSE:GMED - Get Free Report) last posted its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The company had revenue of $625.71 million during the quarter, compared to analyst estimates of $604.69 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. Globus Medical's revenue was up 63.1% on a year-over-year basis. As a group, sell-side analysts predict that Globus Medical, Inc. will post 2.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on GMED. StockNews.com downgraded Globus Medical from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. Piper Sandler upped their price objective on Globus Medical from $80.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, November 6th. Royal Bank of Canada boosted their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research note on Wednesday, November 6th. Finally, Roth Mkm reiterated a "buy" rating and set a $100.00 price objective on shares of Globus Medical in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Globus Medical currently has an average rating of "Moderate Buy" and a consensus target price of $92.18.

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.