Globus Medical, Inc. (NYSE:GMED) Shares Sold by Motley Fool Wealth Management LLC

Motley Fool Wealth Management LLC trimmed its position in Globus Medical, Inc. (NYSE:GMED) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 owned approximately 0.14% of Globus Medical worth $16,235,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Intech Investment Management LLC lifted its holdings in Globus Medical by 291.3% during the 3rd quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock worth $1,469,000 after buying an additional 15,283 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Globus Medical during the 3rd quarter worth about $26,406,000. Charles Schwab Investment Management Inc. lifted its stake in Globus Medical by 29.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock worth $88,610,000 after purchasing an additional 285,172 shares during the last quarter. Raymond James Trust N.A. acquired a new position in Globus Medical in the third quarter valued at approximately $205,000. Finally, Cerity Partners LLC increased its stake in Globus Medical by 25.9% in the third quarter. Cerity Partners LLC now owns 45,750 shares of the medical device company’s stock valued at $3,273,000 after purchasing an additional 9,404 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 18.54% of the stock is currently owned by insiders.

Globus Medical Price Performance

Shares of NYSE GMED opened at $76.65 on Wednesday. The company has a market cap of $10.54 billion, a PE ratio of 102.20, a P/E/G ratio of 1.61 and a beta of 1.19. 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 1-year low of $49.33 and a 1-year high of $94.93.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS 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 company had revenue of $657.29 million during the quarter, compared to analysts’ expectations of $646.19 million. Analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GMED. Barclays upped their target price on shares of Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 24th. BTIG Research upped their price objective on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Stifel Nicolaus lifted their target price on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company decreased their target price on Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Canaccord Genuity Group lifted their price target on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.09.

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.