Motley Fool Asset Management LLC Reduces Stake in Globus Medical, Inc. $GMED

Motley Fool Asset Management LLC reduced its position in Globus Medical, Inc. (NYSE:GMED) by 78.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,469 shares of the medical device company’s stock after selling 123,809 shares during the period. Motley Fool Asset Management LLC’s holdings in Globus Medical were worth $1,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of Globus Medical by 1,007.7% in the 1st quarter. Larson Financial Group LLC now owns 432 shares of the medical device company’s stock worth $32,000 after buying an additional 393 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Globus Medical by 202.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 572 shares of the medical device company’s stock worth $42,000 after buying an additional 383 shares during the last quarter. Whittier Trust Co. boosted its stake in shares of Globus Medical by 46.5% in the 1st quarter. Whittier Trust Co. now owns 580 shares of the medical device company’s stock worth $42,000 after buying an additional 184 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Globus Medical by 237.3% in the 1st quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock worth $62,000 after buying an additional 598 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in shares of Globus Medical by 30.9% in the 1st quarter. First Horizon Advisors Inc. now owns 872 shares of the medical device company’s stock worth $64,000 after buying an additional 206 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Globus Medical

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

Wall Street Analyst Weigh In

GMED has been the topic of a number of research reports. Wells Fargo & Company dropped their price target on Globus Medical from $76.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Stifel Nicolaus started coverage on Globus Medical in a research report on Tuesday. They set a “hold” rating and a $64.00 target price on the stock. Canaccord Genuity Group lowered their target price on Globus Medical from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Globus Medical in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada set a $88.00 target price on Globus Medical in a research report on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.55.

Globus Medical Stock Performance

NYSE GMED opened at $62.83 on Wednesday. The company has a market capitalization of $8.49 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 1.73 and a beta of 1.12. The business’s fifty day moving average is $59.39 and its 200 day moving average is $60.34. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week high of $94.93.

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