Grantham Mayo Van Otterloo & Co. LLC Sells 172,994 Shares of Globus Medical, Inc. (NYSE:GMED)

Grantham Mayo Van Otterloo & Co. LLC cut its position in Globus Medical, Inc. (NYSE:GMED) by 25.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 500,484 shares of the medical device company’s stock after selling 172,994 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.37% of Globus Medical worth $41,395,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of Globus Medical in the fourth quarter valued at about $27,000. Quarry LP raised its position in shares of Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after buying an additional 433 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of 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 buying an additional 206 shares during the period. V Square Quantitative Management LLC grew its position in Globus Medical by 52.0% during the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after buying an additional 197 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in 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 acquiring an additional 132 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. 18.54% of the stock is owned by company insiders.

Analyst Ratings Changes

GMED has been the subject of a number of recent analyst reports. StockNews.com downgraded Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Wells Fargo & Company reduced their price objective on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Truist Financial dropped their target price on shares of Globus Medical from $90.00 to $82.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. Barclays increased their price target on shares of Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Finally, Roth Mkm boosted their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $97.09.

Globus Medical Price Performance

Globus Medical stock opened at $69.01 on Friday. The business has a 50 day moving average of $80.17 and a 200-day moving average of $79.95. The company has a market capitalization of $9.49 billion, a P/E ratio of 92.01, a P/E/G ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93.

Globus Medical (NYSE:GMED) last released 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 for the quarter, compared to analyst estimates of $646.19 million. Equities analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.

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.