Exchange Traded Concepts LLC Sells 26,891 Shares of Globus Medical, Inc. (NYSE:GMED)

Exchange Traded Concepts LLC lessened its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 14.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 164,425 shares of the medical device company’s stock after selling 26,891 shares during the period. Exchange Traded Concepts LLC owned 0.12% of Globus Medical worth $13,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Coldstream Capital Management Inc. increased its stake in shares of Globus Medical by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock valued at $447,000 after purchasing an additional 131 shares during the last quarter. Stephens Inc. AR grew its position in Globus Medical by 3.4% in the third quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock valued at $303,000 after acquiring an additional 138 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Globus Medical by 2.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock worth $403,000 after acquiring an additional 140 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Globus Medical by 60.2% in the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after acquiring an additional 206 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its stake in shares of Globus Medical by 6.2% in the 3rd quarter. Central Pacific Bank Trust Division now owns 3,751 shares of the medical device company’s stock valued at $268,000 after purchasing an additional 220 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. StockNews.com downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research note on Thursday, January 9th. Stifel Nicolaus boosted their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.91.

Insider Activity at Globus Medical

In other Globus Medical news, SVP Kelly Huller sold 5,000 shares of Globus Medical stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction that occurred on 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 have sold a total of 81,667 shares of company stock worth $6,674,554 in the last 90 days. Company insiders own 18.54% of the company’s stock.

Globus Medical Trading Down 0.1 %

Shares of GMED opened at $92.33 on Friday. Globus Medical, Inc. has a 12-month low of $49.33 and a 12-month high of $93.67. The company has a market cap of $12.57 billion, a PE ratio of 137.61, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19. The stock has a 50-day moving average price of $84.64 and a 200-day moving average price of $76.45.

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

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.