Globus Medical, Inc. (NYSE:GMED) Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC cut its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 482,422 shares of the medical device company’s stock after selling 25,939 shares during the quarter. Anchor Capital Advisors LLC owned 0.35% of Globus Medical worth $39,901,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP increased its position in Globus Medical by 698.4% during the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after purchasing an additional 433 shares during the period. Farther Finance Advisors LLC grew its holdings in Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after acquiring an additional 385 shares during the period. UMB Bank n.a. raised its position in Globus Medical by 60.2% in the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after acquiring an additional 206 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Globus Medical by 52.0% in the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock valued at $48,000 after acquiring an additional 197 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in shares of Globus Medical by 24.7% during the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after purchasing an additional 132 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction that occurred on 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 filing with the SEC, which is available at this link. Also, SVP Kelly Huller sold 2,500 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total transaction of $217,500.00. The disclosure for this sale can be found here. Corporate insiders own 18.54% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Roth Mkm raised their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Stifel Nicolaus boosted their price target on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Barclays lifted their price objective on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Truist Financial upped their target price on Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $97.82.

Globus Medical Trading Down 1.8 %

Shares of GMED stock opened at $78.55 on Friday. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of 104.74, a PEG ratio of 1.61 and a beta of 1.19. The firm has a 50-day moving average price of $86.51 and a 200 day moving average price of $79.25.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The business had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. As a group, research analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

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.