William Blair Investment Management LLC Has $101.95 Million Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

William Blair Investment Management LLC lessened its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 21.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,232,643 shares of the medical device company’s stock after selling 344,020 shares during the period. William Blair Investment Management LLC’s holdings in Globus Medical were worth $101,952,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GMED. Raymond James Financial Inc. acquired a new position in shares of Globus Medical during the 4th quarter worth about $58,405,000. ArrowMark Colorado Holdings LLC bought a new position in Globus Medical during the third quarter valued at about $43,947,000. Lord Abbett & CO. LLC bought a new position in Globus Medical during the third quarter valued at about $37,948,000. Parsifal Capital Management LP increased its stake in Globus Medical by 50.5% during the third quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock valued at $96,619,000 after acquiring an additional 453,053 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in Globus Medical during the third quarter valued at about $26,406,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Price Performance

NYSE GMED opened at $72.16 on Tuesday. The firm has a market cap of $9.93 billion, a PE ratio of 96.22, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The stock’s 50 day simple moving average is $84.63 and its 200 day simple moving average is $79.80.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $646.19 million. As a group, equities analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. BTIG Research boosted their price target on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Canaccord Genuity Group boosted their price target on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Barclays boosted their price target on Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. StockNews.com upgraded Globus Medical from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Finally, Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.82.

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 on Friday, January 10th. The stock was 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. Company insiders own 18.54% of the company’s stock.

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.