Globus Medical, Inc. (NYSE:GMED) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC lowered its position in Globus Medical, Inc. (NYSE:GMED) by 22.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 199,779 shares of the medical device company’s stock after selling 57,964 shares during the period. Natixis Advisors LLC owned about 0.15% of Globus Medical worth $16,524,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Globus Medical during the 4th quarter valued at approximately $27,000. Quarry LP lifted 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 valued at $35,000 after acquiring an additional 433 shares during the period. UMB Bank n.a. lifted 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 valued at $45,000 after acquiring an additional 206 shares during the period. V Square Quantitative Management LLC lifted 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 valued at $48,000 after acquiring an additional 197 shares during the period. Finally, First Horizon Advisors Inc. lifted 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 valued at $55,000 after acquiring an additional 132 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Activity

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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 18.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GMED shares. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Tuesday. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. Canaccord Genuity Group raised their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Stifel Nicolaus raised their price objective on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Barclays raised their price objective on shares of Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Globus Medical has a consensus rating of “Moderate Buy” and a consensus price target of $97.09.

Globus Medical Stock Performance

GMED stock opened at $71.63 on Wednesday. The stock has a market capitalization of $9.85 billion, a P/E ratio of 95.50, 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. The company has a 50 day moving average price of $84.39 and a two-hundred day moving average price of $79.79.

Globus Medical (NYSE:GMED) last released 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 firm had revenue of $657.29 million during the quarter, compared to analysts’ expectations of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. Research analysts forecast 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.