Rice Hall James & Associates LLC Decreases Stake in Globus Medical, Inc. (NYSE:GMED)

Rice Hall James & Associates LLC lowered its position in Globus Medical, Inc. (NYSE:GMED) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,575 shares of the medical device company’s stock after selling 724 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Globus Medical were worth $5,589,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Oak Thistle LLC purchased a new position in Globus Medical in the fourth quarter worth approximately $376,000. Kathmere Capital Management LLC acquired a new stake in Globus Medical during the fourth quarter worth approximately $23,091,000. bLong Financial LLC acquired a new stake in Globus Medical during the fourth quarter worth approximately $397,000. Quest Partners LLC acquired a new stake in Globus Medical during the third quarter worth approximately $523,000. Finally, Intech Investment Management LLC raised its holdings in Globus Medical by 291.3% during the third quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock worth $1,469,000 after purchasing an additional 15,283 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

GMED has been the topic of a number of research analyst reports. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a report on Thursday, February 6th. StockNews.com raised shares of Globus Medical from a “hold” rating to a “buy” rating in a report on Friday. Royal Bank of Canada raised their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company lifted their target price on shares of Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.91.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $217,500.00. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by corporate insiders.

Globus Medical Stock Performance

Shares of GMED opened at $83.99 on Tuesday. The stock has a market capitalization of $11.44 billion, a P/E ratio of 125.36, a P/E/G ratio of 1.68 and a beta of 1.19. The company’s fifty day moving average is $86.65 and its two-hundred day moving average is $78.66. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93.

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.