Globus Medical, Inc. (NYSE:GMED) Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC lowered its position in shares of Globus Medical, Inc. (NYSE:GMED) by 84.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 218,662 shares of the medical device company’s stock after selling 1,214,760 shares during the period. Magnetar Financial LLC’s holdings in Globus Medical were worth $18,086,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Coldstream Capital Management Inc. grew its stake in shares of Globus Medical by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock worth $447,000 after purchasing an additional 131 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Globus Medical by 24.7% during the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after purchasing an additional 132 shares in the last quarter. US Bancorp DE grew its stake in shares of Globus Medical by 3.2% during the fourth quarter. US Bancorp DE now owns 4,305 shares of the medical device company’s stock worth $356,000 after purchasing an additional 135 shares in the last quarter. Berry Wealth Group LP grew its stake in shares of Globus Medical by 5.1% during the fourth quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock worth $282,000 after purchasing an additional 164 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Globus Medical by 5.3% during 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. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Transactions at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 18.54% of the company’s stock.

Globus Medical Stock Performance

Shares of NYSE:GMED opened at $73.35 on Thursday. The company has a 50-day simple moving average of $84.13 and a 200-day simple moving average of $79.75. 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 $10.09 billion, a price-to-earnings ratio of 97.80, a PEG ratio of 1.61 and a beta of 1.19.

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 analysts’ consensus estimates of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The business had revenue of $657.29 million during the quarter, compared to analysts’ expectations of $646.19 million. As a group, research analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GMED has been the subject of a number of research reports. Truist Financial reduced their price target on shares of Globus Medical from $90.00 to $82.00 and set a “hold” rating for the company in a research report on Tuesday. Stifel Nicolaus boosted their price target on shares of Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, February 21st. StockNews.com raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. BTIG Research boosted their price target on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Wells Fargo & Company reduced their price target 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, February 21st. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.09.

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.