Globus Medical, Inc. (NYSE:GMED) Shares Sold by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC lowered its position in shares of Globus Medical, Inc. (NYSE:GMED) by 18.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,830 shares of the medical device company’s stock after selling 2,000 shares during the period. Hunter Perkins Capital Management LLC’s holdings in Globus Medical were worth $730,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in shares of Globus Medical in the third quarter valued at about $27,000. Quarry LP increased its position in Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after acquiring an additional 433 shares during the period. Farther Finance Advisors LLC increased its position in Globus Medical by 230.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after acquiring an additional 385 shares during the period. UMB Bank n.a. raised its stake in Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after acquiring an additional 206 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Globus Medical by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 888 shares of the medical device company’s stock worth $64,000 after acquiring an additional 257 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Daniel T. Scavilla sold 60,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total transaction of $4,801,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,667 shares of company stock valued at $6,674,554. Company insiders own 18.54% of the company’s stock.

Globus Medical Price Performance

Shares of NYSE:GMED opened at $92.82 on Monday. The business has a 50-day moving average of $85.11 and a two-hundred day moving average of $76.78. The firm has a market capitalization of $12.64 billion, a PE ratio of 138.53, a P/E/G ratio of 1.78 and a beta of 1.19. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $93.67.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The firm had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. During the same quarter last year, the firm posted $0.57 earnings per share. Globus Medical’s revenue for the quarter was up 63.1% compared to the same quarter last year. As a group, research analysts anticipate that Globus Medical, Inc. will post 2.98 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on GMED shares. Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Wells Fargo & Company lifted their target price on shares of Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Stifel Nicolaus increased their price target on shares of Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and an average price target of $96.91.

Globus Medical Company 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.