Globus Medical, Inc. (NYSE:GMED) Shares Sold by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC trimmed its holdings in Globus Medical, Inc. (NYSE:GMED) by 18.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,830 shares of the medical device company’s stock after selling 2,000 shares during the period. Hunter Perkins Capital Management LLC’s holdings in Globus Medical were worth $730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Oak Thistle LLC acquired a new stake in Globus Medical in the fourth quarter valued at $376,000. Kathmere Capital Management LLC acquired a new stake in shares of Globus Medical in the 4th quarter valued at about $23,091,000. Sanctuary Advisors LLC bought a new position in shares of Globus Medical during the second quarter worth about $611,000. Quest Partners LLC acquired a new position in Globus Medical in the third quarter worth about $523,000. Finally, Intech Investment Management LLC increased its holdings in 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 buying an additional 15,283 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Globus Medical Stock Performance

Shares of GMED stock opened at $92.82 on Monday. The stock has a market cap of $12.64 billion, a PE ratio of 138.53, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19. The business’s fifty day moving average is $85.11 and its 200-day moving average is $76.78. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $93.67.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.18. The firm had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The firm’s quarterly revenue was up 63.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share. Equities research analysts predict that Globus Medical, Inc. will post 2.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on GMED shares. Royal Bank of Canada increased their target price on Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Truist Financial raised their price objective on Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Wells Fargo & Company boosted their target price on shares of Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Thursday, January 9th. Finally, Canaccord Genuity Group lifted their price target on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.91.

Insider Activity

In other news, SVP Kelly Huller sold 5,000 shares of Globus Medical stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The disclosure for this sale can be found here. Insiders have sold 81,667 shares of company stock worth $6,674,554 over the last 90 days. 18.54% of the stock is owned by company insiders.

Globus Medical 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.