Greenwood Capital Associates LLC Has $782,000 Holdings in Globus Medical, Inc. (NYSE:GMED)

Greenwood Capital Associates LLC lessened its position in Globus Medical, Inc. (NYSE:GMED) by 20.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 9,453 shares of the medical device company’s stock after selling 2,494 shares during the period. Greenwood Capital Associates LLC’s holdings in Globus Medical were worth $782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. ArrowMark Colorado Holdings LLC bought a new position in shares of Globus Medical in the third quarter worth about $43,947,000. Lord Abbett & CO. LLC bought a new position in Globus Medical in the 3rd quarter worth approximately $37,948,000. Parsifal Capital Management LP lifted its holdings in shares of Globus Medical by 50.5% during the third quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock worth $96,619,000 after buying an additional 453,053 shares during the last quarter. Artemis Investment Management LLP acquired a new position in shares of Globus Medical during the third quarter worth approximately $30,656,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Globus Medical in the third quarter valued at approximately $26,406,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insiders Place Their Bets

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were 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 own 18.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wells Fargo & Company upped 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. Piper Sandler increased their target price on shares of Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Stifel Nicolaus boosted their price target on Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada raised their price objective on Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group lifted their price objective on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and an average price target of $96.91.

Globus Medical Price Performance

Shares of NYSE:GMED opened at $92.17 on Wednesday. The business’s fifty day moving average price is $86.17 and its two-hundred day moving average price is $77.72. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The stock has a market capitalization of $12.55 billion, a price-to-earnings ratio of 137.57, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19.

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

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.