Securian Asset Management Inc. Sells 187 Shares of Globus Medical, Inc. (NYSE:GMED)

Securian Asset Management Inc. cut its holdings in Globus Medical, Inc. (NYSE:GMED) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,598 shares of the medical device company’s stock after selling 187 shares during the period. Securian Asset Management Inc.’s holdings in Globus Medical were worth $711,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GMED. Oak Thistle LLC bought a new position in Globus Medical in the 4th quarter valued at $376,000. bLong Financial LLC bought a new position in Globus Medical during the fourth quarter valued at about $397,000. Kathmere Capital Management LLC bought a new position in Globus Medical during the fourth quarter valued at about $23,091,000. Quest Partners LLC purchased a new stake in Globus Medical during the third quarter worth about $523,000. Finally, Intech Investment Management LLC raised its position in Globus Medical by 291.3% in the third quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock worth $1,469,000 after acquiring an additional 15,283 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Globus Medical Stock Up 2.2 %

Shares of GMED opened at $71.21 on Monday. The business’s 50-day moving average price is $84.86 and its 200-day moving average price is $79.80. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93. The stock has a market cap of $9.79 billion, a PE ratio of 94.94, a P/E/G ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last posted its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $646.19 million. Analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GMED has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Canaccord Genuity Group increased their price objective on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, January 10th. Barclays boosted their target price on Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Roth Mkm increased their price target on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, Stifel Nicolaus boosted their price objective on Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the 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.

Insider Buying and Selling

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was 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 SEC, which can be accessed through this link. 18.54% of the stock is currently owned by company insiders.

Globus Medical Company 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.