Globus Medical, Inc. (NYSE:GMED) Shares Sold by Champlain Investment Partners LLC

Champlain Investment Partners LLC decreased its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 27.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,794,637 shares of the medical device company’s stock after selling 671,821 shares during the period. Champlain Investment Partners LLC’s holdings in Globus Medical were worth $128,388,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Globus Medical in the third quarter valued at $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Globus Medical in the 2nd quarter worth about $33,000. Farther Finance Advisors LLC lifted its position in Globus Medical by 230.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after purchasing an additional 385 shares during the last quarter. GAMMA Investing LLC boosted its stake in Globus Medical by 254.5% during the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 453 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Globus Medical in the 2nd quarter worth about $52,000. Institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GMED. Royal Bank of Canada lifted their price target on Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Morgan Stanley increased their price target on Globus Medical from $74.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Wells Fargo & Company lifted their price objective on shares of Globus Medical from $78.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Stifel Nicolaus raised their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.18.

Insider Activity at Globus Medical

In other 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 transaction, the director now owns 536,275 shares in the company, valued at approximately $40,242,076. The trade was a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel T. Scavilla sold 60,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total value of $4,801,200.00. The disclosure for this sale can be found here. Insiders sold 110,000 shares of company stock worth $8,512,850 in the last quarter. 18.54% of the stock is owned by company insiders.

Globus Medical Stock Performance

Globus Medical stock opened at $84.72 on Friday. The firm has a market cap of $11.54 billion, a price-to-earnings ratio of 126.45, a price-to-earnings-growth ratio of 2.03 and a beta of 1.17. Globus Medical, Inc. has a 1 year low of $44.02 and a 1 year high of $85.30. The firm’s 50 day moving average price is $74.76 and its two-hundred day moving average price is $70.69.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.18. The business had revenue of $625.71 million during the quarter, compared to analyst estimates of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The company’s revenue was up 63.1% compared to the same quarter last year. During the same period last year, the company posted $0.57 EPS. As a group, equities analysts predict that Globus Medical, Inc. will post 2.98 EPS for the current fiscal year.

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.