Paradice Investment Management LLC Reduces Stake in Globus Medical, Inc. (NYSE:GMED)

Paradice Investment Management LLC cut its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 26.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 436,680 shares of the medical device company’s stock after selling 157,430 shares during the period. Globus Medical comprises approximately 7.2% of Paradice Investment Management LLC’s investment portfolio, making the stock its 2nd largest holding. Paradice Investment Management LLC’s holdings in Globus Medical were worth $36,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. State Street Corp raised its stake in shares of Globus Medical by 2.3% during the 3rd quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock worth $255,450,000 after purchasing an additional 81,371 shares during the period. Geode Capital Management LLC raised its stake in shares of Globus Medical by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company’s stock worth $134,893,000 after purchasing an additional 21,935 shares during the period. Geneva Capital Management LLC raised its stake in shares of Globus Medical by 1.1% during 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 purchasing an additional 18,117 shares during the period. Parsifal Capital Management LP raised its stake in shares of Globus Medical by 50.5% during 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 purchasing an additional 453,053 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Globus Medical by 29.9% during 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 purchasing an additional 285,172 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Royal Bank of Canada lifted their target price on Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Roth Mkm lifted their target price on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Truist Financial lifted their target price on Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Stifel Nicolaus lifted their price objective on Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, BTIG Research lifted their price objective on Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Three 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 price target of $96.91.

Insider Buying and Selling at Globus Medical

In other news, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $87.00, for a total transaction of $217,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical 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 disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

Globus Medical Stock Down 0.2 %

GMED stock opened at $83.99 on Tuesday. The firm has a market capitalization of $11.44 billion, a PE ratio of 125.36, a PEG ratio of 1.68 and a beta of 1.19. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93. The stock has a 50-day simple moving average of $86.65 and a two-hundred day simple moving average of $78.66.

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.