Banque Cantonale Vaudoise Sells 307 Shares of Globus Medical, Inc. (NYSE:GMED)

Banque Cantonale Vaudoise cut its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,179 shares of the medical device company’s stock after selling 307 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Globus Medical were worth $800,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GMED. Swedbank AB lifted its position in shares of Globus Medical by 15.4% during the 2nd quarter. Swedbank AB now owns 375,000 shares of the medical device company’s stock valued at $25,684,000 after acquiring an additional 50,000 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in Globus Medical by 17.9% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,136,697 shares of the medical device company’s stock worth $77,852,000 after buying an additional 172,605 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Globus Medical in the 2nd quarter valued at about $611,000. Bessemer Group Inc. raised its position in shares of Globus Medical by 26.4% in the 1st quarter. Bessemer Group Inc. now owns 34,951 shares of the medical device company’s stock valued at $1,875,000 after buying an additional 7,294 shares in the last quarter. Finally, AXA S.A. lifted its holdings in shares of Globus Medical by 0.5% during the 2nd quarter. AXA S.A. now owns 1,478,242 shares of the medical device company’s stock worth $101,245,000 after acquiring an additional 7,443 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on GMED. Stifel Nicolaus boosted their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company upped their price objective on Globus Medical from $78.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Roth Mkm reiterated a “buy” rating and issued a $100.00 target price on shares of Globus Medical in a research report on Wednesday, November 6th. StockNews.com cut shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Barclays upped their price objective on shares of Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.18.

Globus Medical Stock Up 1.7 %

Shares of NYSE:GMED opened at $84.97 on Friday. The business has a fifty day simple moving average of $74.46 and a 200 day simple moving average of $70.45. Globus Medical, Inc. has a 12-month low of $44.02 and a 12-month high of $85.01. The firm has a market cap of $11.57 billion, a P/E ratio of 126.82, a P/E/G ratio of 1.99 and a beta of 1.17.

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

Insider Activity

In other news, SVP Kelly Huller sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total transaction of $405,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel T. Scavilla sold 60,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total transaction of $4,801,200.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,000 shares of company stock valued at $8,512,850. 18.54% of the stock is currently owned by insiders.

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.