Orion Portfolio Solutions LLC Lowers Stake in Globus Medical, Inc. (NYSE:GMED)

Orion Portfolio Solutions LLC lessened its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,018 shares of the medical device company’s stock after selling 747 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Globus Medical were worth $1,904,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Globus Medical by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 10,863,834 shares of the medical device company’s stock valued at $898,548,000 after purchasing an additional 240,218 shares during the last quarter. State Street Corp boosted its holdings in shares of Globus Medical by 2.3% in the 3rd quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock valued at $255,450,000 after buying an additional 81,371 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Globus Medical by 7.7% in the 4th quarter. JPMorgan Chase & Co. now owns 2,804,330 shares of the medical device company’s stock worth $231,946,000 after buying an additional 199,556 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Globus Medical by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company’s stock worth $134,893,000 after acquiring an additional 21,935 shares in the last quarter. Finally, Geneva Capital Management LLC lifted its position in Globus Medical by 13.6% during the fourth quarter. Geneva Capital Management LLC now owns 1,815,837 shares of the medical device company’s stock valued at $150,188,000 after acquiring an additional 217,707 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Globus Medical Trading Up 3.0 %

Shares of GMED stock opened at $75.62 on Thursday. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93. The stock has a 50 day moving average of $81.05 and a 200 day moving average of $80.02. The stock has a market cap of $10.40 billion, a P/E ratio of 100.83, a P/E/G ratio of 1.61 and a beta of 1.19.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on GMED. StockNews.com cut Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Canaccord Genuity Group boosted their price target on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Wells Fargo & Company decreased their price objective on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Stifel Nicolaus boosted their target price on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Roth Mkm raised their price target on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and an average price target of $97.09.

Insiders Place Their Bets

In other news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.54% of the stock is currently 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.