Globus Medical, Inc. (NYSE:GMED) Shares Sold by Sterling Investment Advisors Ltd.

Sterling Investment Advisors Ltd. decreased its position in Globus Medical, Inc. (NYSE:GMED) by 12.8% in the 4th quarter, HoldingsChannel reports. The fund owned 156,223 shares of the medical device company’s stock after selling 23,000 shares during the period. Globus Medical makes up about 3.2% of Sterling Investment Advisors Ltd.’s investment portfolio, making the stock its 4th biggest holding. Sterling Investment Advisors Ltd.’s holdings in Globus Medical were worth $12,921,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Globus Medical by 2.3% in the 3rd quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock valued at $255,450,000 after acquiring an additional 81,371 shares in the last quarter. Geode Capital Management LLC raised its holdings in Globus Medical by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company’s stock valued at $134,893,000 after acquiring an additional 21,935 shares in the last quarter. Geneva Capital Management LLC raised its holdings in shares of Globus Medical by 1.1% in the 3rd quarter. Geneva Capital Management LLC now owns 1,598,130 shares of the medical device company’s stock worth $114,330,000 after buying an additional 18,117 shares in the last quarter. Parsifal Capital Management LP raised its holdings in shares of Globus Medical by 50.5% in the 3rd quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock worth $96,619,000 after buying an additional 453,053 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Globus Medical by 29.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock worth $88,610,000 after buying an additional 285,172 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Performance

Shares of GMED opened at $80.00 on Tuesday. The firm has a market capitalization of $10.89 billion, a price-to-earnings ratio of 106.67, a PEG ratio of 1.61 and a beta of 1.19. The business’s fifty day moving average price is $86.68 and its two-hundred day moving average price is $79.20. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10. The firm had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. As a group, research analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GMED. Barclays increased their target price on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday. Roth Mkm increased their target price on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a report on Friday. Finally, StockNews.com raised Globus Medical from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Globus Medical presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.82.

Insider Buying and Selling at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kelly Huller sold 2,500 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total value of $217,500.00. The disclosure for this sale can be found here. Corporate insiders own 18.54% of the company’s stock.

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.