Vaughan Nelson Investment Management L.P. Sells 77,225 Shares of Globus Medical, Inc. (NYSE:GMED)

Vaughan Nelson Investment Management L.P. reduced its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 6.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,059,472 shares of the medical device company’s stock after selling 77,225 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.78% of Globus Medical worth $75,795,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of Globus Medical during the third quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Globus Medical during the second quarter worth $33,000. Farther Finance Advisors LLC boosted its position in shares of Globus Medical by 230.5% in the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after acquiring an additional 385 shares during the period. GAMMA Investing LLC grew its position in shares of Globus Medical by 254.5% during the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after purchasing an additional 453 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Globus Medical during the second quarter worth approximately $52,000. Institutional investors own 95.16% of the company’s stock.

Insider Transactions at Globus Medical

In related news, SVP Kelly Huller sold 5,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total transaction of $405,050.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ann D. Rhoads sold 15,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the transaction, the director now owns 42,884 shares in the company, valued at $3,017,318.24. This represents a 25.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,000 shares of company stock valued at $8,512,850. Corporate insiders own 18.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GMED. Bank of America boosted their price target on Globus Medical from $55.00 to $80.00 and gave the company an “underperform” rating in a research note on Wednesday, November 6th. BTIG Research upped their target price on Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. StockNews.com upgraded Globus Medical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Royal Bank of Canada upped their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Globus Medical currently has a consensus rating of “Moderate Buy” and an average price target of $88.18.

Globus Medical Price Performance

Shares of GMED opened at $81.10 on Friday. The business has a 50-day simple moving average of $73.36 and a two-hundred day simple moving average of $69.68. Globus Medical, Inc. has a 12-month low of $44.02 and a 12-month high of $84.87. The stock has a market cap of $10.98 billion, a PE ratio of 121.04, a PEG ratio of 1.97 and a beta of 1.17.

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

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.