Pembroke Management LTD Sells 18,930 Shares of Globus Medical, Inc. (NYSE:GMED)

Pembroke Management LTD lessened its holdings in Globus Medical, Inc. (NYSE:GMED) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 568,709 shares of the medical device company’s stock after selling 18,930 shares during the period. Globus Medical accounts for about 5.3% of Pembroke Management LTD’s investment portfolio, making the stock its 2nd biggest holding. Pembroke Management LTD owned approximately 0.42% of Globus Medical worth $40,685,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Select Equity Group L.P. acquired a new stake in shares of Globus Medical in the second quarter worth about $91,711,000. Millennium Management LLC raised its stake in shares of Globus Medical by 1,171.5% in the 2nd quarter. Millennium Management LLC now owns 1,363,834 shares of the medical device company’s stock valued at $93,409,000 after acquiring an additional 1,256,570 shares in the last quarter. Magnetar Financial LLC lifted its holdings in Globus Medical by 198.6% in the 1st quarter. Magnetar Financial LLC now owns 1,689,287 shares of the medical device company’s stock worth $90,613,000 after purchasing an additional 1,123,540 shares during the last quarter. Motley Fool Asset Management LLC boosted its position in Globus Medical by 1,263.7% during the first quarter. Motley Fool Asset Management LLC now owns 848,164 shares of the medical device company’s stock worth $45,496,000 after purchasing an additional 785,970 shares during the period. Finally, Burgundy Asset Management Ltd. grew its holdings in Globus Medical by 46.1% during the first quarter. Burgundy Asset Management Ltd. now owns 2,479,837 shares of the medical device company’s stock valued at $133,018,000 after purchasing an additional 782,285 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GMED has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of Globus Medical from $67.00 to $71.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their price objective on Globus Medical from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Barclays raised their target price on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, BTIG Research upped their price target on Globus Medical from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Globus Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.78.

Globus Medical Trading Up 1.8 %

Shares of NYSE:GMED opened at $74.88 on Friday. The business’s 50 day moving average is $71.56 and its 200-day moving average is $67.60. The firm has a market capitalization of $10.14 billion, a PE ratio of 249.60, a PEG ratio of 2.03 and a beta of 1.17. Globus Medical, Inc. has a 1-year low of $43.38 and a 1-year high of $75.98.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Tuesday, August 6th. The medical device company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07. Globus Medical had a net margin of 1.82% and a return on equity of 8.70%. The firm had revenue of $629.69 million for the quarter, compared to the consensus estimate of $615.33 million. During the same quarter in the previous year, the company earned $0.63 earnings per share. The business’s revenue was up 115.9% compared to the same quarter last year. On average, sell-side analysts predict that Globus Medical, Inc. will post 2.84 EPS for the current year.

Insider Buying and Selling

In other Globus Medical news, Director David D. Davidar sold 30,000 shares of Globus Medical stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the sale, the director now directly owns 536,275 shares of the company’s stock, valued at approximately $40,242,076. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Globus Medical news, Director David D. Davidar sold 30,000 shares of Globus Medical stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the completion of the transaction, the director now directly owns 536,275 shares of the company’s stock, valued at approximately $40,242,076. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the completion of the sale, the director now owns 42,884 shares in the company, valued at $3,017,318.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.54% of the company’s stock.

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.