Corient Private Wealth LLC Has $5.41 Million Stock Position in Globus Medical, Inc. (NYSE:GMED)

Corient Private Wealth LLC lessened its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 10.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,344 shares of the medical device company’s stock after selling 7,985 shares during the period. Corient Private Wealth LLC’s holdings in Globus Medical were worth $5,405,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Oak Thistle LLC acquired a new position in shares of Globus Medical during the fourth quarter worth $376,000. bLong Financial LLC acquired a new position in Globus Medical in the fourth quarter valued at $397,000. Kathmere Capital Management LLC acquired a new position in Globus Medical in the fourth quarter valued at $23,091,000. Intech Investment Management LLC lifted its holdings in Globus Medical by 291.3% in the third quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock valued at $1,469,000 after buying an additional 15,283 shares during the period. Finally, Quest Partners LLC acquired a new position in Globus Medical in the third quarter valued at $523,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Buying and Selling

In related news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 18.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a report on Tuesday. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $80.00 to $97.00 in a report on Thursday, January 9th. StockNews.com downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday. Finally, BTIG Research lifted their price target 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. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.09.

Globus Medical Price Performance

NYSE:GMED opened at $73.67 on Friday. The firm has a 50-day moving average of $83.61 and a 200-day moving average of $79.71. The company has a market cap of $10.13 billion, a PE ratio of 98.22, a PEG 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.

Globus Medical (NYSE:GMED) last posted 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. The company had revenue of $657.29 million during the quarter, compared to the consensus estimate of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. On average, equities research analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

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.