Anchor Capital Advisors LLC Cuts Position in Globus Medical, Inc. (NYSE:GMED)

Anchor Capital Advisors LLC trimmed its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 482,422 shares of the medical device company’s stock after selling 25,939 shares during the period. Anchor Capital Advisors LLC’s holdings in Globus Medical were worth $39,901,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. ArrowMark Colorado Holdings LLC purchased a new stake in shares of Globus Medical in the third quarter worth about $43,947,000. Lord Abbett & CO. LLC purchased a new position in Globus Medical in the 3rd quarter worth approximately $37,948,000. Parsifal Capital Management LP boosted its holdings in Globus Medical by 50.5% in the 3rd quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock worth $96,619,000 after acquiring an additional 453,053 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Globus Medical in the third quarter valued at approximately $26,406,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Globus Medical by 29.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock valued at $88,610,000 after purchasing an additional 285,172 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Globus Medical Trading Down 1.8 %

Shares of GMED opened at $78.55 on Friday. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93. The firm has a market cap of $10.70 billion, a price-to-earnings ratio of 104.74, a PEG ratio of 1.61 and a beta of 1.19. The stock has a 50 day moving average of $86.51 and a 200-day moving average of $79.25.

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

Insider Activity

In related news, CFO Keith W. Pfeil sold 14,167 shares of the firm’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 value of $1,250,804.43. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kelly Huller sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total value of $217,500.00. 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 have recently weighed in on GMED shares. Wells Fargo & Company decreased their target price on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Barclays upped their price objective on shares of Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday. Canaccord Genuity Group lifted their target price on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Truist Financial increased their price target on Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Finally, BTIG Research raised their price objective on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $97.82.

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.