Rhumbline Advisers Decreases Stock Position in Globus Medical, Inc. (NYSE:GMED)

Rhumbline Advisers cut its holdings in Globus Medical, Inc. (NYSE:GMED) by 2.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 297,569 shares of the medical device company’s stock after selling 7,623 shares during the quarter. Rhumbline Advisers’ holdings in Globus Medical were worth $24,612,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP boosted its position in shares of Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after buying an additional 433 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Globus Medical by 230.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after purchasing an additional 385 shares in the last quarter. UMB Bank n.a. lifted its holdings in Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 206 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Globus Medical by 52.0% in the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock valued at $48,000 after purchasing an additional 197 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Globus Medical by 41.7% in the 4th quarter. GAMMA Investing LLC now owns 1,258 shares of the medical device company’s stock valued at $104,000 after purchasing an additional 370 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Globus Medical Stock Performance

GMED opened at $84.17 on Thursday. The firm has a 50 day moving average price of $86.70 and a 200 day moving average price of $78.87. The company has a market cap of $11.46 billion, a PE ratio of 125.62, a price-to-earnings-growth ratio of 1.60 and a beta of 1.19. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93.

Insider Buying and Selling

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total value of $217,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The disclosure for this sale can be found here. Corporate insiders own 18.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on GMED shares. Truist Financial upped their target price on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Royal Bank of Canada upped their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Stifel Nicolaus upped their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. StockNews.com upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, Canaccord Genuity Group upped their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.91.

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.