Motley Fool Wealth Management LLC Reduces Stock Position in Globus Medical, Inc. (NYSE:GMED)

Motley Fool Wealth Management LLC decreased its position in shares of Globus Medical, Inc. (NYSE:GMED) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,424 shares of the medical device company’s stock after selling 5,980 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Globus Medical were worth $16,235,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Oak Thistle LLC purchased a new stake in Globus Medical during the fourth quarter worth $376,000. bLong Financial LLC acquired a new position in shares of Globus Medical during the 4th quarter worth $397,000. Kathmere Capital Management LLC purchased a new stake in shares of Globus Medical in the 4th quarter worth about $23,091,000. Intech Investment Management LLC grew its stake in Globus Medical by 291.3% in the 3rd quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock valued at $1,469,000 after acquiring an additional 15,283 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Globus Medical during the 3rd quarter valued at about $2,709,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Trading Up 0.8 %

Globus Medical stock opened at $76.65 on Wednesday. The stock has a fifty day moving average price of $83.16 and a 200 day moving average price of $79.92. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93. The firm has a market capitalization of $10.54 billion, a P/E ratio of 102.20, a PEG ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last announced 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. 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. As a group, equities analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current year.

Insiders Place Their Bets

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 transaction of $1,250,804.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 18.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a report on Tuesday, March 18th. StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Wells Fargo & Company cut their price target on Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Roth Mkm lifted their price objective on Globus Medical from $100.00 to $115.00 and gave the stock 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 assigned a buy rating to the stock. Based on data from MarketBeat, Globus Medical presently has an average rating of “Moderate Buy” and an average price target of $97.09.

Globus Medical 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.