Globus Medical, Inc. (NYSE:GMED) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA decreased its position in shares of Globus Medical, Inc. (NYSE:GMED) by 10.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 41,225 shares of the medical device company’s stock after selling 5,000 shares during the period. Primecap Management Co. CA’s holdings in Globus Medical were worth $3,410,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Globus Medical during the fourth quarter worth about $58,405,000. ArrowMark Colorado Holdings LLC acquired a new stake in Globus Medical during the 3rd quarter valued at approximately $43,947,000. Lord Abbett & CO. LLC purchased a new stake in Globus Medical during the 3rd quarter worth approximately $37,948,000. Parsifal Capital Management LP raised its position 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 valued at $96,619,000 after purchasing an additional 453,053 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Globus Medical during the 3rd quarter valued at approximately $26,406,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Up 2.5 %

Globus Medical stock opened at $73.35 on Thursday. Globus Medical, Inc. has a 52-week low of $49.33 and a 52-week high of $94.93. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 97.80, a PEG ratio of 1.61 and a beta of 1.19. The firm has a 50-day moving average price of $84.13 and a two-hundred day moving average price of $79.75.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. The business had revenue of $657.29 million during 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%. Research analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Insider Activity at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was 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 SEC, which is available at this hyperlink. Company insiders own 18.54% of the company’s stock.

Analysts Set New Price Targets

GMED has been the subject of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research note on Tuesday. Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $83.00 to $100.00 in a research note on Monday, December 2nd. Stifel Nicolaus lifted their price target on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. BTIG Research upped their price objective on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Roth Mkm lifted their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Globus Medical has an average rating of “Moderate Buy” and a consensus price target of $97.09.

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.