Globus Medical, Inc. (NYSE:GMED) Shares Sold by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC reduced its position in Globus Medical, Inc. (NYSE:GMED) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,575 shares of the medical device company’s stock after selling 724 shares during the period. Rice Hall James & Associates LLC’s holdings in Globus Medical were worth $5,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in Globus Medical by 2.3% in the 3rd quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock worth $255,450,000 after acquiring an additional 81,371 shares in the last quarter. Geode Capital Management LLC increased its holdings in Globus Medical by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company’s stock worth $134,893,000 after acquiring an additional 21,935 shares in the last quarter. Geneva Capital Management LLC increased its holdings in Globus Medical by 1.1% in the 3rd quarter. Geneva Capital Management LLC now owns 1,598,130 shares of the medical device company’s stock worth $114,330,000 after acquiring an additional 18,117 shares in the last quarter. Parsifal Capital Management LP increased its holdings in Globus Medical by 50.5% in the 3rd quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock worth $96,619,000 after acquiring an additional 453,053 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Globus Medical by 29.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock worth $88,610,000 after acquiring an additional 285,172 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Globus Medical

In related news, SVP Kelly Huller sold 2,500 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $87.00, for a total value of $217,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 disclosure for this sale can be found here. 18.54% of the stock is currently owned by insiders.

Globus Medical Trading Down 0.2 %

Shares of GMED opened at $83.99 on Tuesday. Globus Medical, Inc. has a 12-month low of $49.33 and a 12-month high of $94.93. The firm has a 50-day moving average price of $86.65 and a 200 day moving average price of $78.66. The firm has a market capitalization of $11.44 billion, a P/E ratio of 125.36, a P/E/G ratio of 1.68 and a beta of 1.19.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Truist Financial boosted their price target on shares of Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a report on Thursday, February 6th. Wells Fargo & Company upped their target price on shares of Globus Medical from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada upped their target price on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Globus Medical currently has an average rating of “Moderate Buy” and an average price target of $96.91.

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.