Capital Investment Counsel Inc Reduces Holdings in Globus Medical, Inc. (NYSE:GMED)

Capital Investment Counsel Inc reduced its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,290 shares of the medical device company’s stock after selling 1,300 shares during the quarter. Capital Investment Counsel Inc’s holdings in Globus Medical were worth $1,844,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP grew its holdings in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after buying an additional 433 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after buying an additional 206 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after buying an additional 385 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Globus Medical by 52.0% during the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after buying an additional 197 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Globus Medical by 41.7% during the fourth quarter. GAMMA Investing LLC now owns 1,258 shares of the medical device company’s stock worth $104,000 after buying an additional 370 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction on 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 is available through this hyperlink. Also, SVP Kelly Huller sold 2,500 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total transaction of $217,500.00. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by corporate insiders.

Globus Medical Stock Up 0.1 %

Shares of GMED stock opened at $84.22 on Friday. The stock has a market cap of $11.47 billion, a price-to-earnings ratio of 125.69, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The firm’s 50 day moving average price is $86.73 and its two-hundred day moving average price is $78.91.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. On average, equities analysts forecast that Globus Medical, Inc. will post 2.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GMED. Royal Bank of Canada lifted their price target on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Piper Sandler lifted their price target on shares of Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $83.00 to $100.00 in a report on Monday, December 2nd. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a report on Thursday, February 6th. Finally, Wells Fargo & Company boosted their target price on shares of Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.91.

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.