Cambiar Investors LLC Trims Holdings in Globus Medical, Inc. (NYSE:GMED)

Cambiar Investors LLC decreased its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 7.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,325 shares of the medical device company’s stock after selling 3,380 shares during the quarter. Cambiar Investors LLC’s holdings in Globus Medical were worth $3,253,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GMED. Creative Planning lifted its position in Globus Medical by 16.8% during the second quarter. Creative Planning now owns 6,157 shares of the medical device company’s stock worth $422,000 after buying an additional 886 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Globus Medical during the second quarter worth approximately $611,000. GAMMA Investing LLC lifted its position in Globus Medical by 40.7% during the third quarter. GAMMA Investing LLC now owns 888 shares of the medical device company’s stock worth $64,000 after buying an additional 257 shares in the last quarter. Swedbank AB lifted its position in Globus Medical by 6.7% during the third quarter. Swedbank AB now owns 400,000 shares of the medical device company’s stock worth $28,616,000 after buying an additional 25,000 shares in the last quarter. Finally, Orin Green Financial LLC purchased a new position in Globus Medical during the third quarter worth approximately $215,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling

In related news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction dated Monday, December 2nd. The stock was 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. 18.54% of the stock is currently owned by insiders.

Globus Medical Price Performance

GMED opened at $87.41 on Tuesday. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 130.46, a PEG ratio of 1.68 and a beta of 1.19. The business has a fifty day moving average price of $86.56 and a 200 day moving average price of $78.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Truist Financial lifted their target price on Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Canaccord Genuity Group lifted their target price on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Royal Bank of Canada lifted their target price on Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, BTIG Research lifted their target price on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.91.

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.