Globus Medical, Inc. (NYSE:GMED) Shares Sold by Pembroke Management LTD

Pembroke Management LTD reduced its position in Globus Medical, Inc. (NYSE:GMED – Get Rating) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 584,085 shares of the medical device company’s stock after selling 6,713 shares during the period. Globus Medical accounts for approximately 4.6% of Pembroke Management LTD’s investment portfolio, making the stock its largest holding. Pembroke Management LTD owned approximately 0.59% of Globus Medical worth $43,380,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. bought a new position in shares of Globus Medical in the 3rd quarter worth $197,000. Rothschild Investment Corp IL boosted its position in shares of Globus Medical by 3.9% in the 4th quarter. Rothschild Investment Corp IL now owns 4,793 shares of the medical device company’s stock worth $356,000 after purchasing an additional 180 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Globus Medical by 1.0% in the 4th quarter. Louisiana State Employees Retirement System now owns 20,700 shares of the medical device company’s stock worth $1,537,000 after purchasing an additional 200 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of Globus Medical by 1.0% in the 4th quarter. State of Michigan Retirement System now owns 19,661 shares of the medical device company’s stock worth $1,460,000 after purchasing an additional 200 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Globus Medical by 0.8% in the 3rd quarter. Captrust Financial Advisors now owns 28,776 shares of the medical device company’s stock worth $1,714,000 after purchasing an additional 227 shares during the last quarter. 74.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on GMED. Needham & Company LLC lowered Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, February 10th. Piper Sandler lowered Globus Medical from an “overweight” rating to a “neutral” rating in a report on Thursday, February 9th. Morgan Stanley lifted their target price on Globus Medical from $68.00 to $78.00 and gave the stock an “equal weight” rating in a report on Friday, January 6th. Canaccord Genuity Group cut their price target on Globus Medical from $75.00 to $67.00 and set a “hold” rating on the stock in a report on Wednesday, February 22nd. Finally, Barclays cut their price target on Globus Medical from $82.00 to $75.00 in a report on Wednesday, February 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $70.91.

Globus Medical Stock Down 0.7 %

Shares of NYSE:GMED traded down $0.37 during midday trading on Friday, reaching $51.83. The company had a trading volume of 2,199,294 shares, compared to its average volume of 1,496,846. The business’s 50 day moving average price is $65.65 and its 200 day moving average price is $66.17. The stock has a market cap of $5.20 billion, a PE ratio of 27.87, a P/E/G ratio of 1.79 and a beta of 1.05. Globus Medical, Inc. has a 1-year low of $50.92 and a 1-year high of $81.78.

Globus Medical (NYSE:GMED – Get Rating) last released its earnings results on Tuesday, February 21st. The medical device company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. The business had revenue of $274.50 million for the quarter, compared to the consensus estimate of $276.40 million. Globus Medical had a return on equity of 11.93% and a net margin of 18.59%. Globus Medical’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. On average, research analysts expect that Globus Medical, Inc. will post 2.3 earnings per share for the current fiscal year.

Insider Activity at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 29,167 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $77.57, for a total transaction of $2,262,484.19. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 24.41% of the stock is owned by company insiders.

About Globus Medical

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Globus Medical, Inc operates as a medical device company that develops and commercializes healthcare solutions. The firm engages in developing products that promote healing in patients with musculoskeletal disorders. It classifies products into Innovative Fusion and Disruptive Technology. It operates through the United States and International geographical segments.