Globus Medical, Inc. (NYSE:GMED) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its holdings in Globus Medical, Inc. (NYSE:GMED) by 75.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,031 shares of the medical device company’s stock after selling 15,499 shares during the period. Intech Investment Management LLC’s holdings in Globus Medical were worth $416,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Raymond James Financial Inc. acquired a new position in Globus Medical in the fourth quarter valued at approximately $58,405,000. ArrowMark Colorado Holdings LLC acquired a new position in Globus Medical during the 3rd quarter valued at approximately $43,947,000. Lord Abbett & CO. LLC bought a new position in Globus Medical during the 3rd quarter worth $37,948,000. Parsifal Capital Management LP increased its position in Globus Medical by 50.5% in the third quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock worth $96,619,000 after buying an additional 453,053 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new stake in Globus Medical in the third quarter valued at $26,406,000. Institutional investors own 95.16% of the company’s stock.

Globus Medical Trading Up 0.8 %

Shares of Globus Medical stock opened at $76.65 on Wednesday. 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 $10.54 billion, a PE ratio of 102.20, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The company’s 50-day moving average price is $83.16 and its two-hundred day moving average price is $79.92.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Stifel Nicolaus raised their price target on shares of Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, February 21st. StockNews.com downgraded Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Tuesday, March 18th. Finally, Roth Mkm lifted their target price on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.09.

Insider Transactions at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 18.54% of the company’s stock.

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.