Janus Henderson Group PLC Sells 387,222 Shares of Globus Medical, Inc. (NYSE:GMED)

Janus Henderson Group PLC lowered its position in Globus Medical, Inc. (NYSE:GMED) by 5.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,997,667 shares of the medical device company’s stock after selling 387,222 shares during the period. Janus Henderson Group PLC owned 0.05% of Globus Medical worth $500,612,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of Globus Medical during the third quarter valued at $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Globus Medical during the 2nd quarter valued at $33,000. Farther Finance Advisors LLC grew its stake in Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after buying an additional 385 shares during the last quarter. GAMMA Investing LLC grew its stake in Globus Medical by 254.5% during the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 453 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Globus Medical in the 2nd quarter worth about $52,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Down 2.0 %

NYSE:GMED opened at $83.90 on Tuesday. Globus Medical, Inc. has a 52 week low of $44.02 and a 52 week high of $87.22. The company has a market capitalization of $11.42 billion, a P/E ratio of 125.22, a P/E/G ratio of 2.04 and a beta of 1.19. The stock’s fifty day moving average is $76.52 and its two-hundred day moving average is $71.77.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, topping 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 period last year, the company earned $0.57 EPS. The firm’s quarterly revenue was up 63.1% on a year-over-year basis. Sell-side analysts anticipate that Globus Medical, Inc. will post 2.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Globus Medical

In related news, SVP Kelly Huller sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $70.36, for a total value of $1,055,400.00. Following the completion of the sale, the director now directly owns 42,884 shares of the company’s stock, valued at $3,017,318.24. The trade was a 25.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock worth $8,512,850 over the last 90 days. 18.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $83.00 to $100.00 in a report on Monday. Stifel Nicolaus increased their price target on shares of Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company raised their price objective on shares of Globus Medical from $78.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.73.

Globus Medical Company 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.