Globus Medical, Inc. (NYSE:GMED) Shares Sold by Capital Investment Counsel Inc

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

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP raised its holdings in Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after acquiring an additional 433 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after purchasing an additional 385 shares during the last quarter. UMB Bank n.a. increased its stake in Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 206 shares during the last quarter. V Square Quantitative Management LLC increased its stake in 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 valued at $48,000 after purchasing an additional 197 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Globus Medical by 41.7% during the fourth quarter. GAMMA Investing LLC now owns 1,258 shares of the medical device company’s stock valued at $104,000 after purchasing an additional 370 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kelly Huller sold 2,500 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were 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. Corporate insiders own 18.54% of the company’s stock.

Globus Medical Stock Up 0.1 %

GMED stock opened at $84.22 on Friday. The company has a market capitalization of $11.47 billion, a P/E ratio of 125.69, a PEG ratio of 1.61 and a beta of 1.19. The company has a 50-day simple moving average of $86.73 and a 200 day simple moving average of $78.91. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.10. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. Equities analysts anticipate that Globus Medical, Inc. will post 2.98 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on GMED shares. 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 research note on Thursday, January 9th. 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 research note on Wednesday, December 11th. Piper Sandler boosted their target price on shares of Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Stifel Nicolaus boosted their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Truist Financial boosted their target price on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.