Motley Fool Asset Management LLC Lowers Holdings in Globus Medical, Inc. $GMED

Motley Fool Asset Management LLC trimmed its holdings in Globus Medical, Inc. (NYSE:GMED) by 78.7% during the 2nd quarter, Holdings Channel.com reports. 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 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Larson Financial Group LLC lifted its position in shares of Globus Medical by 1,007.7% in the first 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 in the last quarter. Whittier Trust Co. lifted its position in shares of Globus Medical by 46.5% in the first quarter. Whittier Trust Co. now owns 580 shares of the medical device company’s stock worth $42,000 after buying an additional 184 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Globus Medical by 202.6% in the first 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 in the last quarter. Signaturefd LLC lifted its position in shares of Globus Medical by 41.1% in the second quarter. Signaturefd LLC now owns 958 shares of the medical device company’s stock worth $57,000 after buying an additional 279 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of Globus Medical by 237.3% in the first 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 in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GMED. Wall Street Zen downgraded Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Stifel Nicolaus began coverage on Globus Medical in a research report on Tuesday. They issued a “hold” rating and a $64.00 target price on the stock. Morgan Stanley decreased their target price on Globus Medical from $75.00 to $68.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 15th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Monday, July 21st. Finally, Canaccord Genuity Group decreased 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. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.55.

Insider Activity at Globus Medical

In other news, Director Ann D. Rhoads sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $58.46, for a total transaction of $584,600.00. Following the transaction, the director owned 25,384 shares of the company’s stock, valued at approximately $1,483,948.64. This represents a 28.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 18.54% of the company’s stock.

Globus Medical Price Performance

Shares of NYSE GMED opened at $62.83 on Wednesday. The business’s 50 day moving average is $59.39 and its two-hundred day moving average is $60.34. Globus Medical, Inc. has a 1-year low of $51.79 and a 1-year high of $94.93. The stock has a market capitalization of $8.49 billion, a P/E ratio of 24.17, a PEG ratio of 1.73 and a beta of 1.12.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Thursday, August 7th. The medical device company reported $0.86 earnings per share for the quarter, topping 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 company had revenue of $745.34 million for the quarter, compared to analysts’ expectations of $738.91 million. During the same period in the previous year, the firm posted $0.75 earnings per share. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. As a group, equities research analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal 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.