Globus Medical, Inc. (NYSE:GMED) Stock Position Trimmed by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in shares of Globus Medical, Inc. (NYSE:GMED) by 20.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,897 shares of the medical device company’s stock after selling 8,200 shares during the period. Handelsbanken Fonder AB’s holdings in Globus Medical were worth $2,638,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Advisor Group LLC boosted its position in shares of Globus Medical by 17.8% during the fourth quarter. Private Advisor Group LLC now owns 4,989 shares of the medical device company’s stock worth $413,000 after buying an additional 753 shares during the period. Venturi Wealth Management LLC bought a new stake in Globus Medical during the 4th quarter valued at $130,000. Truist Financial Corp boosted its position in Globus Medical by 0.8% during the 4th quarter. Truist Financial Corp now owns 68,625 shares of the medical device company’s stock worth $5,676,000 after acquiring an additional 563 shares during the period. CIBC Asset Management Inc grew its stake in shares of Globus Medical by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company’s stock worth $288,000 after purchasing an additional 175 shares in the last quarter. Finally, Pittenger & Anderson Inc. acquired a new position in shares of Globus Medical during the fourth quarter valued at $200,000. Institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Performance

Shares of NYSE:GMED opened at $80.00 on Tuesday. The company has a market capitalization of $10.89 billion, a PE ratio of 106.67, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The stock has a fifty day moving average of $86.68 and a 200-day moving average of $79.20. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93.

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

Wall Street Analysts Forecast Growth

GMED has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday. BTIG Research increased their price objective on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Roth Mkm raised their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Stifel Nicolaus upped their target price on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Friday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.82.

Insiders Place Their Bets

In other news, SVP Kelly Huller sold 2,500 shares of the stock in a transaction 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction on Friday, January 10th. The shares were 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. Corporate insiders own 18.54% of the company’s stock.

About Globus Medical

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.