Quadrature Capital Ltd Cuts Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Quadrature Capital Ltd lowered its position in Globus Medical, Inc. (NYSE:GMEDFree Report) by 45.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 37,101 shares of the medical device company’s stock after selling 30,795 shares during the period. Quadrature Capital Ltd’s holdings in Globus Medical were worth $1,978,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GMED. Janney Montgomery Scott LLC lifted its position in shares of Globus Medical by 16.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 8,729 shares of the medical device company’s stock valued at $433,000 after buying an additional 1,250 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Globus Medical by 11.3% during the third quarter. HighTower Advisors LLC now owns 40,449 shares of the medical device company’s stock valued at $2,001,000 after purchasing an additional 4,114 shares during the last quarter. UBS Group AG lifted its holdings in Globus Medical by 94.6% during the third quarter. UBS Group AG now owns 218,570 shares of the medical device company’s stock valued at $10,852,000 after purchasing an additional 106,269 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Globus Medical by 71.4% in the third quarter. Blair William & Co. IL now owns 14,976 shares of the medical device company’s stock worth $744,000 after purchasing an additional 6,240 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Globus Medical by 51.5% in the third quarter. Rhumbline Advisers now owns 344,354 shares of the medical device company’s stock valued at $17,097,000 after purchasing an additional 117,051 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Globus Medical news, Director Dan Lemaitre sold 63,300 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $64.61, for a total transaction of $4,089,813.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Dan Lemaitre sold 63,300 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $64.61, for a total transaction of $4,089,813.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David D. Davidar sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $65.00, for a total transaction of $1,300,000.00. Following the completion of the transaction, the director now directly owns 566,275 shares of the company’s stock, valued at $36,807,875. The disclosure for this sale can be found here. Company insiders own 18.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on GMED shares. BTIG Research raised their price objective on shares of Globus Medical from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Stifel Nicolaus increased their price objective on Globus Medical from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Wednesday, May 8th. Piper Sandler raised shares of Globus Medical from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $80.00 in a research note on Monday, May 20th. Finally, Barclays raised their price objective on shares of Globus Medical from $83.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $69.40.

Read Our Latest Stock Report on GMED

Globus Medical Stock Up 1.6 %

Shares of NYSE GMED opened at $66.68 on Tuesday. The firm’s 50-day moving average price is $59.51 and its 200-day moving average price is $55.17. Globus Medical, Inc. has a 52-week low of $43.38 and a 52-week high of $67.89. The company has a market cap of $9.03 billion, a PE ratio of 104.19, a PEG ratio of 1.83 and a beta of 1.15.

Globus Medical (NYSE:GMEDGet Free Report) last issued its earnings results on Tuesday, May 7th. The medical device company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.17. Globus Medical had a net margin of 3.51% and a return on equity of 8.82%. The company had revenue of $606.67 million for the quarter, compared to analysts’ expectations of $586.82 million. During the same quarter last year, the company posted $0.53 earnings per share. The firm’s quarterly revenue was up 119.3% on a year-over-year basis. As a group, equities research analysts anticipate that Globus Medical, Inc. will post 2.82 EPS for the current fiscal year.

Globus Medical Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Globus Medical (NYSE:GMED)

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