Y Intercept Hong Kong Ltd Sells 9,316 Shares of Globus Medical, Inc. (NYSE:GMED)

Y Intercept Hong Kong Ltd cut its position in Globus Medical, Inc. (NYSE:GMED) by 46.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,560 shares of the medical device company’s stock after selling 9,316 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Globus Medical were worth $873,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Oak Thistle LLC bought a new position in Globus Medical in the fourth quarter worth about $376,000. bLong Financial LLC bought a new position in Globus Medical in the fourth quarter worth about $397,000. Kathmere Capital Management LLC purchased a new stake in shares of Globus Medical during the fourth quarter worth about $23,091,000. Quest Partners LLC purchased a new stake in shares of Globus Medical during the third quarter worth about $523,000. Finally, Intech Investment Management LLC grew its stake in shares of Globus Medical by 291.3% during the third quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock worth $1,469,000 after acquiring an additional 15,283 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Stock Down 1.8 %

Shares of NYSE GMED opened at $78.55 on Friday. The business’s 50 day moving average price is $86.51 and its 200 day moving average price is $79.25. The firm has a market cap of $10.70 billion, a P/E ratio of 104.74, a P/E/G ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93.

Globus Medical (NYSE:GMED) last issued its earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The firm had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. As a group, research analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Insiders Place Their Bets

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Keith W. Pfeil sold 14,167 shares of the company’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 value of $1,250,804.43. The disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GMED. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research note on Friday, February 21st. BTIG Research boosted their price target on Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Stifel Nicolaus boosted 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. Royal Bank of Canada boosted their price target on Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Truist Financial boosted their price target on Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.82.

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.