Fisher Asset Management LLC Sells 5,001 Shares of Globus Medical, Inc. (NYSE:GMED)

Fisher Asset Management LLC lowered its position in shares of Globus Medical, Inc. (NYSE:GMED) by 1.3% in the third quarter, HoldingsChannel reports. The fund owned 369,211 shares of the medical device company’s stock after selling 5,001 shares during the period. Fisher Asset Management LLC’s holdings in Globus Medical were worth $26,413,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in Globus Medical during the 3rd quarter worth about $27,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Globus Medical during the second quarter worth approximately $33,000. Farther Finance Advisors LLC lifted its holdings in Globus Medical by 230.5% in the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after buying an additional 385 shares during the period. GAMMA Investing LLC boosted its stake in Globus Medical by 254.5% in the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after acquiring an additional 453 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Globus Medical during the 2nd quarter worth $52,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GMED. Roth Mkm restated a “buy” rating and issued a $100.00 price target on shares of Globus Medical in a research report on Wednesday, November 6th. StockNews.com cut Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. BTIG Research upped their price target on Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Barclays lifted their price objective on shares of Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, Bank of America upped their target price on shares of Globus Medical from $55.00 to $80.00 and gave the company an “underperform” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.18.

Globus Medical Trading Up 0.0 %

GMED stock opened at $84.53 on Wednesday. The stock has a 50-day moving average price of $75.35 and a two-hundred day moving average price of $71.17. Globus Medical, Inc. has a 1 year low of $44.02 and a 1 year high of $85.33. The stock has a market cap of $11.51 billion, a PE ratio of 126.16, a price-to-earnings-growth ratio of 2.02 and a beta of 1.17.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. The business had revenue of $625.71 million during the quarter, compared to the consensus estimate of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. Globus Medical’s quarterly revenue was up 63.1% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share. On average, analysts forecast that Globus Medical, Inc. will post 2.98 earnings per share for the current fiscal year.

Insider Transactions at Globus Medical

In related news, CEO Daniel T. Scavilla sold 60,000 shares of Globus Medical stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total value of $4,801,200.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kelly Huller sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total value of $405,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock valued at $8,512,850 over the last 90 days. 18.54% of the stock is owned by corporate insiders.

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.