Y Intercept Hong Kong Ltd Sells 9,316 Shares of Globus Medical, Inc. (NYSE:GMED)

Y Intercept Hong Kong Ltd lowered its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 46.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,560 shares of the medical device company’s stock after selling 9,316 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Globus Medical were worth $873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oak Thistle LLC bought a new stake in shares of Globus Medical during the fourth quarter valued at approximately $376,000. bLong Financial LLC bought a new stake in shares of Globus Medical during the fourth quarter valued at approximately $397,000. Kathmere Capital Management LLC bought a new stake in shares of Globus Medical during the fourth quarter valued at approximately $23,091,000. Quest Partners LLC purchased a new position in shares of Globus Medical in the third quarter valued at $523,000. Finally, Intech Investment Management LLC grew its holdings in shares of Globus Medical by 291.3% in the third quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock valued at $1,469,000 after purchasing an additional 15,283 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Down 1.8 %

NYSE GMED opened at $78.55 on Friday. The company has a fifty day moving average of $86.51 and a two-hundred day moving average of $79.25. The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of 104.74, a PEG ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93.

Globus Medical (NYSE:GMED) last issued its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10. The firm had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. Equities research analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on GMED. Wells Fargo & Company cut their target price on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Roth Mkm raised their target price on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $83.00 to $100.00 in a report on Monday, December 2nd. Royal Bank of Canada raised 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. Finally, StockNews.com raised shares of Globus Medical from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and an average price target of $97.82.

Insider Activity

In other news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kelly Huller sold 2,500 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total transaction of $217,500.00. The disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

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.