Stephens Inc. AR Sells 698 Shares of Globus Medical, Inc. (NYSE:GMED)

Stephens Inc. AR lessened its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 16.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,531 shares of the medical device company’s stock after selling 698 shares during the quarter. Stephens Inc. AR’s holdings in Globus Medical were worth $292,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GMED. Oak Thistle LLC bought a new stake in Globus Medical during the fourth quarter valued at approximately $376,000. Kathmere Capital Management LLC bought a new stake in shares of Globus Medical during the 4th quarter worth $23,091,000. Quest Partners LLC purchased a new position in Globus Medical in the third quarter worth $523,000. Intech Investment Management LLC increased its stake in Globus Medical by 291.3% in the third quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock valued at $1,469,000 after acquiring an additional 15,283 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Globus Medical during the third quarter valued at about $2,709,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Performance

GMED opened at $83.99 on Friday. The stock has a market capitalization of $11.44 billion, a PE ratio of 125.36, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The stock’s 50 day moving average price is $86.65 and its 200-day moving average price is $78.56. Globus Medical, Inc. has a 52-week low of $49.33 and a 52-week high of $94.93.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Piper Sandler increased their price objective on Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Roth Mkm lifted their price target on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Canaccord Genuity Group upped their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Finally, Wells Fargo & Company upped their price target on shares of Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.91.

Insiders Place Their Bets

In related news, SVP Kelly Huller sold 2,500 shares of the company’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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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. Company insiders own 18.54% of the company’s stock.

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.