Globus Medical, Inc. (NYSE:GMED) Holdings Reduced by Diversified Trust Co

Diversified Trust Co lowered its position in Globus Medical, Inc. (NYSE:GMED) by 31.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,811 shares of the medical device company’s stock after selling 5,935 shares during the quarter. Diversified Trust Co’s holdings in Globus Medical were worth $1,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in Globus Medical in the 2nd quarter valued at approximately $611,000. Quest Partners LLC bought a new stake in shares of Globus Medical during the third quarter valued at about $523,000. Intech Investment Management LLC lifted its holdings in Globus Medical by 291.3% in the third quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock worth $1,469,000 after purchasing an additional 15,283 shares during the period. Quantbot Technologies LP bought a new position in Globus Medical in the 3rd quarter valued at about $2,709,000. Finally, AXA S.A. increased its stake in Globus Medical by 0.5% during the 2nd quarter. AXA S.A. now owns 1,478,242 shares of the medical device company’s stock valued at $101,245,000 after buying an additional 7,443 shares during the period. Institutional investors own 95.16% of the company’s stock.

Globus Medical Trading Up 3.5 %

Shares of GMED opened at $86.34 on Thursday. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $87.22. The stock has a market capitalization of $11.76 billion, a P/E ratio of 128.87, a P/E/G ratio of 1.97 and a beta of 1.19. The business’s 50-day moving average price is $82.56 and its 200 day moving average price is $74.94.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.18. The business had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The firm’s revenue was up 63.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. On average, research analysts predict that Globus Medical, Inc. will post 2.97 earnings per share for the current year.

Insider Buying and Selling at Globus Medical

In other news, Director David D. Davidar sold 30,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 536,275 shares in the company, valued at $40,242,076. This represents a 5.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kelly Huller sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 97,500 shares of company stock valued at $7,674,950 in the last three months. 18.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GMED has been the subject of a number of research analyst reports. Canaccord Genuity Group upped their price target on shares of Globus Medical from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $83.00 to $100.00 in a research note on Monday, December 2nd. 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 note on Tuesday, December 17th. StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, BTIG Research boosted their price target on shares of Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.55.

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.