Orion Portfolio Solutions LLC Sells 747 Shares of Globus Medical, Inc. (NYSE:GMED)

Orion Portfolio Solutions LLC trimmed its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,018 shares of the medical device company’s stock after selling 747 shares during the period. Orion Portfolio Solutions LLC’s holdings in Globus Medical were worth $1,904,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GMED. SBI Securities Co. Ltd. bought a new position in shares of Globus Medical during the 4th quarter valued at $27,000. Quarry LP increased its position in Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after acquiring an additional 433 shares during the last quarter. UMB Bank n.a. lifted its holdings 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 valued at $45,000 after acquiring an additional 206 shares during the period. V Square Quantitative Management LLC boosted its position 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 worth $48,000 after purchasing an additional 197 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake 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 valued at $55,000 after purchasing an additional 132 shares during the period. Institutional investors own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GMED shares. Bank of America raised shares of 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. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research report on Tuesday, March 18th. StockNews.com cut Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Barclays boosted their price target on Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Finally, Truist Financial decreased their price objective on Globus Medical from $90.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $97.09.

Insider Activity

In other news, 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 value of $1,250,804.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 18.54% of the company’s stock.

Globus Medical Stock Up 3.0 %

Shares of NYSE:GMED opened at $75.62 on Thursday. The firm has a fifty day simple moving average of $81.05 and a two-hundred day simple moving average of $80.02. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93. The stock has a market capitalization of $10.40 billion, a P/E ratio of 100.83, a PEG ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.10. The company had revenue of $657.29 million for the quarter, compared to analysts’ expectations of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. On average, analysts expect 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.