River Global Investors LLP Trims Holdings in Globus Medical, Inc. (NYSE:GMED)

River Global Investors LLP reduced its position in shares of Globus Medical, Inc. (NYSE:GMED) by 39.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,547 shares of the medical device company’s stock after selling 18,520 shares during the period. River Global Investors LLP’s holdings in Globus Medical were worth $2,362,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Globus Medical during the 4th quarter valued at about $58,405,000. ArrowMark Colorado Holdings LLC purchased a new stake in Globus Medical in the third quarter valued at approximately $43,947,000. Lord Abbett & CO. LLC acquired a new position in Globus Medical during the third quarter worth approximately $37,948,000. Parsifal Capital Management LP raised its stake in Globus Medical by 50.5% during 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 purchasing an additional 453,053 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Globus Medical in the 3rd quarter valued at $26,406,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. BTIG Research increased their target price on Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. StockNews.com cut Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $83.00 to $100.00 in a report on Monday, December 2nd. Finally, Canaccord Genuity Group increased their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and an average price target of $97.82.

Globus Medical Price Performance

Shares of GMED stock opened at $77.48 on Friday. The company’s fifty day moving average price is $85.90 and its two-hundred day moving average price is $79.63. The firm has a market capitalization of $10.66 billion, a P/E ratio of 103.31, a P/E/G ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93.

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

Insider Activity

In related news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction on Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 18.54% of the company’s stock.

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.