Leeward Investments LLC MA Cuts Holdings in Globus Medical, Inc. (NYSE:GMED)

Leeward Investments LLC MA reduced its position in Globus Medical, Inc. (NYSE:GMED) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 217,659 shares of the medical device company’s stock after selling 16,198 shares during the quarter. Leeward Investments LLC MA owned about 0.16% of Globus Medical worth $18,003,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in GMED. Quarry LP lifted its stake in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after purchasing an additional 433 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after purchasing an additional 385 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after purchasing an additional 206 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Globus Medical by 52.0% during the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after purchasing an additional 197 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of Globus Medical by 24.7% during the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after purchasing an additional 132 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GMED has been the topic of a number of recent research reports. Piper Sandler boosted their price objective on Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research note on Friday. Roth Mkm boosted their price target on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, 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. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Globus Medical currently has an average rating of “Moderate Buy” and a consensus target price of $96.91.

Insider Activity at Globus Medical

In other news, 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 transaction of $1,250,804.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kelly Huller sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were 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. 18.54% of the stock is owned by corporate insiders.

Globus Medical Stock Down 4.4 %

Shares of Globus Medical stock opened at $80.43 on Friday. The firm has a market cap of $10.95 billion, a P/E ratio of 107.24, a P/E/G ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The business has a 50-day moving average price of $86.72 and a 200 day moving average price of $79.10.

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