Globus Medical, Inc. (NYSE:GMED) Position Cut by Leeward Investments LLC MA

Leeward Investments LLC MA trimmed its holdings in Globus Medical, Inc. (NYSE:GMED) by 6.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 217,659 shares of the medical device company’s stock after selling 16,198 shares during the quarter. Leeward Investments LLC MA’s holdings in Globus Medical were worth $18,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Coldstream Capital Management Inc. grew its holdings in Globus Medical by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock worth $447,000 after buying an additional 131 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Globus Medical by 24.7% in the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after buying an additional 132 shares in the last quarter. Stephens Inc. AR grew its holdings in Globus Medical by 3.4% in the 3rd quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock worth $303,000 after buying an additional 138 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Globus Medical by 2.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock worth $403,000 after buying an additional 140 shares in the last quarter. Finally, Berry Wealth Group LP grew its holdings in Globus Medical by 5.1% in the 4th quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock worth $282,000 after buying an additional 164 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Friday. Wells Fargo & Company cut their target price on Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday. Piper Sandler upped their target price on Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Finally, BTIG Research upped their target price on Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. 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 company has a consensus rating of “Moderate Buy” and an average price target of $96.91.

Insider Activity

In other news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kelly Huller sold 2,500 shares of the stock in a transaction 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. Corporate insiders own 18.54% of the company’s stock.

Globus Medical Stock Performance

Shares of NYSE:GMED opened at $80.43 on Friday. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The stock has a fifty day moving average of $86.72 and a 200-day moving average of $79.10. The company has a market capitalization of $10.95 billion, a PE ratio of 107.24, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10. The company 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.

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.