Conservest Capital Advisors Inc. Sells 558 Shares of Globus Medical, Inc. (NYSE:GMED)

Conservest Capital Advisors Inc. lessened its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 6.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,143 shares of the medical device company’s stock after selling 558 shares during the quarter. Conservest Capital Advisors Inc.’s holdings in Globus Medical were worth $674,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning boosted its position in shares of Globus Medical by 5.1% in the third quarter. Creative Planning now owns 6,471 shares of the medical device company’s stock valued at $463,000 after acquiring an additional 314 shares during the period. Private Advisor Group LLC boosted its position in shares of Globus Medical by 16.4% in the third quarter. Private Advisor Group LLC now owns 4,236 shares of the medical device company’s stock valued at $303,000 after acquiring an additional 598 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Globus Medical by 2.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock valued at $403,000 after acquiring an additional 140 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Globus Medical by 5.3% in the third quarter. State of Alaska Department of Revenue now owns 13,125 shares of the medical device company’s stock valued at $938,000 after acquiring an additional 665 shares during the period. Finally, Stephens Investment Management Group LLC boosted its position in shares of Globus Medical by 3.1% in the third quarter. Stephens Investment Management Group LLC now owns 701,860 shares of the medical device company’s stock valued at $50,211,000 after acquiring an additional 20,946 shares during the period. Institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Performance

GMED stock opened at $80.34 on Friday. The company has a market capitalization of $10.94 billion, a PE ratio of 107.12, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The company’s 50 day moving average price is $86.46 and its two-hundred day moving average price is $79.30.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GMED. StockNews.com upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Royal Bank of Canada raised their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Piper Sandler raised their target price on shares of Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Truist Financial raised their target price on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group raised their target price on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and ten 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 $97.82.

Insider Transactions at Globus Medical

In other news, SVP Kelly Huller sold 2,500 shares of the firm’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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Keith W. Pfeil sold 14,167 shares of the firm’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 disclosure for this sale can be found here. Company 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.