Cerity Partners LLC Sells 2,278 Shares of Globus Medical, Inc. (NYSE:GMED)

Cerity Partners LLC decreased its stake in Globus Medical, Inc. (NYSE:GMED) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,472 shares of the medical device company’s stock after selling 2,278 shares during the quarter. Cerity Partners LLC’s holdings in Globus Medical were worth $3,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in shares of Globus Medical by 527.9% in the 4th quarter. Russell Investments Group Ltd. now owns 32,645 shares of the medical device company’s stock valued at $2,700,000 after acquiring an additional 27,446 shares during the period. Old West Investment Management LLC raised its holdings in Globus Medical by 3.9% in the fourth quarter. Old West Investment Management LLC now owns 120,244 shares of the medical device company’s stock worth $9,945,000 after purchasing an additional 4,506 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Globus Medical by 3.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 276,411 shares of the medical device company’s stock worth $22,862,000 after purchasing an additional 8,479 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Globus Medical in the 4th quarter valued at $680,000. Finally, Motley Fool Asset Management LLC increased its position in shares of Globus Medical by 9.8% in the 4th quarter. Motley Fool Asset Management LLC now owns 171,448 shares of the medical device company’s stock valued at $14,180,000 after buying an additional 15,240 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GMED shares. Barclays lifted their target price on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Stifel Nicolaus boosted their price objective on Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Roth Mkm increased their target price on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Wells Fargo & Company cut their price target on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research report on Tuesday, March 18th. Four 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, Globus Medical has an average rating of “Moderate Buy” and an average price target of $96.91.

Globus Medical Price Performance

Shares of NYSE:GMED opened at $72.75 on Monday. The company’s 50-day moving average price is $77.20 and its two-hundred day moving average price is $80.07. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The stock has a market capitalization of $10.01 billion, a PE ratio of 97.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28.

Globus Medical (NYSE:GMED) last released 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. The business had revenue of $657.29 million for 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%. On average, analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal 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.