Natixis Advisors LLC Trims Stock Position in Globus Medical, Inc. (NYSE:GMED)

Natixis Advisors LLC cut its stake in Globus Medical, Inc. (NYSE:GMED) by 0.7% in the third quarter, Holdings Channel.com reports. The fund owned 257,743 shares of the medical device company’s stock after selling 1,769 shares during the quarter. Natixis Advisors LLC’s holdings in Globus Medical were worth $18,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Burgundy Asset Management Ltd. lifted its position in Globus Medical by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 2,514,891 shares of the medical device company’s stock valued at $172,245,000 after acquiring an additional 35,054 shares during the last quarter. Magnetar Financial LLC increased its stake in Globus Medical by 1.7% in the second quarter. Magnetar Financial LLC now owns 1,718,487 shares of the medical device company’s stock valued at $117,699,000 after purchasing an additional 29,200 shares during the period. Geneva Capital Management LLC increased its stake in Globus Medical by 1.1% in the third quarter. Geneva Capital Management LLC now owns 1,598,130 shares of the medical device company’s stock valued at $114,330,000 after purchasing an additional 18,117 shares during the period. AXA S.A. increased its stake in Globus Medical by 0.5% in the second quarter. AXA S.A. now owns 1,478,242 shares of the medical device company’s stock valued at $101,245,000 after purchasing an additional 7,443 shares during the period. Finally, Millennium Management LLC increased its stake in Globus Medical by 1,171.5% in the second quarter. Millennium Management LLC now owns 1,363,834 shares of the medical device company’s stock valued at $93,409,000 after purchasing an additional 1,256,570 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Globus Medical

In other Globus Medical news, Director David D. Davidar sold 30,000 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the transaction, the director now directly owns 536,275 shares in the company, valued at $40,242,076. This represents a 5.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kelly Huller sold 5,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total transaction of $405,050.00. The disclosure for this sale can be found here. In the last three months, insiders sold 110,000 shares of company stock valued at $8,512,850. Corporate insiders own 18.54% of the company’s stock.

Globus Medical Stock Performance

Shares of GMED opened at $83.33 on Wednesday. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 124.37, a PEG ratio of 1.94 and a beta of 1.17. Globus Medical, Inc. has a 1 year low of $44.02 and a 1 year high of $84.87. The company’s 50 day simple moving average is $73.88 and its 200 day simple moving average is $70.26.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The company had revenue of $625.71 million for the quarter, compared to the consensus estimate of $604.69 million. During the same quarter last year, the firm posted $0.57 earnings per share. Globus Medical’s revenue was up 63.1% on a year-over-year basis. Equities analysts expect that Globus Medical, Inc. will post 2.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GMED shares. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research note on Wednesday, November 6th. Roth Mkm restated a “buy” rating and issued a $100.00 price objective on shares of Globus Medical in a research note on Wednesday, November 6th. StockNews.com lowered shares of Globus Medical from a “buy” rating to a “hold” rating in a research note on Wednesday. Canaccord Genuity Group boosted their price target on shares of Globus Medical from $79.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley boosted their price target on shares of Globus Medical from $74.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.18.

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.