Globus Medical, Inc. (NYSE:GMED) Shares Sold by Cambiar Investors LLC

Cambiar Investors LLC decreased its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 7.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 39,325 shares of the medical device company’s stock after selling 3,380 shares during the period. Cambiar Investors LLC’s holdings in Globus Medical were worth $3,253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Lightrock Netherlands B.V. acquired a new position in Globus Medical during the 4th quarter worth approximately $8,465,000. Angeles Wealth Management LLC acquired a new position in Globus Medical during the 4th quarter worth approximately $247,000. Empowered Funds LLC acquired a new position in Globus Medical during the 4th quarter worth approximately $6,404,000. Choreo LLC increased its position in Globus Medical by 8.4% during the 4th quarter. Choreo LLC now owns 9,284 shares of the medical device company’s stock worth $768,000 after purchasing an additional 716 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in shares of Globus Medical by 107.5% in the 4th quarter. Retirement Systems of Alabama now owns 284,736 shares of the medical device company’s stock worth $23,551,000 after acquiring an additional 147,496 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Down 0.2 %

Shares of Globus Medical stock opened at $87.41 on Tuesday. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The firm has a market cap of $11.90 billion, a PE ratio of 130.46, a P/E/G ratio of 1.68 and a beta of 1.19. The business’s fifty day moving average is $86.56 and its two-hundred day moving average is $78.20.

Wall Street Analyst Weigh In

GMED has been the topic of a number of research reports. Truist Financial upped their price target on Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. 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 report on Monday, December 2nd. Roth Mkm upped their price target on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Finally, StockNews.com cut Globus Medical from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.91.

Insiders Place Their Bets

In related news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kelly Huller sold 2,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The disclosure for this sale can be found here. Corporate insiders own 18.54% of the company’s stock.

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.