Globus Medical, Inc. $GMED Shares Sold by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC reduced its stake in Globus Medical, Inc. (NYSE:GMED) by 3.6% in the second quarter, HoldingsChannel.com reports. The fund owned 13,676 shares of the medical device company’s stock after selling 518 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Globus Medical were worth $807,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GMED. Farther Finance Advisors LLC boosted its stake in Globus Medical by 145.5% in the first quarter. Farther Finance Advisors LLC now owns 405 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 240 shares during the period. GAMMA Investing LLC boosted its stake in Globus Medical by 20.3% in the first quarter. GAMMA Investing LLC now owns 1,514 shares of the medical device company’s stock valued at $111,000 after acquiring an additional 256 shares during the period. Janney Montgomery Scott LLC boosted its stake in Globus Medical by 16.6% in the first quarter. Janney Montgomery Scott LLC now owns 18,068 shares of the medical device company’s stock valued at $1,323,000 after acquiring an additional 2,576 shares during the period. State of Alaska Department of Revenue boosted its stake in Globus Medical by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 13,320 shares of the medical device company’s stock valued at $975,000 after acquiring an additional 350 shares during the period. Finally, Intact Investment Management Inc. acquired a new position in Globus Medical in the first quarter valued at approximately $249,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Stock Performance

NYSE GMED opened at $59.61 on Monday. The stock has a market capitalization of $8.05 billion, a P/E ratio of 22.93, a P/E/G ratio of 1.63 and a beta of 1.12. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $94.93. The business’s fifty day moving average is $59.15 and its two-hundred day moving average is $60.75.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Thursday, August 7th. The medical device company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.10. The company had revenue of $745.34 million for the quarter, compared to analysts’ expectations of $738.91 million. Globus Medical had a return on equity of 10.65% and a net margin of 13.58%.The firm’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 earnings per share. On average, research analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Insider Transactions at Globus Medical

In other Globus Medical news, Director Ann D. Rhoads sold 10,000 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $58.46, for a total transaction of $584,600.00. Following the sale, the director directly owned 25,384 shares of the company’s stock, valued at $1,483,948.64. The trade was a 28.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 18.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Globus Medical in a research report on Wednesday, October 8th. Wells Fargo & Company reduced their price objective on Globus Medical from $76.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Wall Street Zen downgraded Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Royal Bank Of Canada set a $88.00 price objective on Globus Medical in a research report on Friday, October 10th. Finally, Canaccord Genuity Group reduced their price objective on Globus Medical from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.27.

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.