Globus Medical, Inc. (NYSE:GMED) Stock Position Reduced by William Blair Investment Management LLC

William Blair Investment Management LLC lessened its position in shares of Globus Medical, Inc. (NYSE:GMED) by 21.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 owned about 0.91% of Globus Medical worth $101,952,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Globus Medical during the 4th quarter worth approximately $27,000. Quarry LP raised its position in shares of Globus Medical by 698.4% during the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after purchasing an additional 433 shares during the period. UMB Bank n.a. raised its position in shares of Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after purchasing an additional 206 shares during the period. V Square Quantitative Management LLC raised its position in shares of Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after purchasing an additional 197 shares during the period. Finally, First Horizon Advisors Inc. raised its position in shares of Globus Medical by 24.7% during the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after purchasing an additional 132 shares during the period. Institutional investors own 95.16% of the company’s stock.

Insider Transactions at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the firm’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 document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 18.54% of the company’s stock.

Analysts Set New Price Targets

GMED has been the topic of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Friday, February 21st. Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $83.00 to $100.00 in a research report on Monday, December 2nd. Wells Fargo & Company lowered their target price on Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. BTIG Research raised their target price on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Barclays raised their target price on Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.82.

Globus Medical Stock Performance

Shares of GMED stock opened at $72.16 on Tuesday. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93. The stock 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. The business’s fifty day moving average is $84.63 and its 200-day moving average is $79.80.

Globus Medical (NYSE:GMED) last released 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. The business had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. Equities research analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

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.