Vaughan Nelson Investment Management L.P. Decreases Position in Globus Medical, Inc. (NYSE:GMED)

Vaughan Nelson Investment Management L.P. reduced its stake in Globus Medical, Inc. (NYSE:GMED) by 35.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 679,592 shares of the medical device company’s stock after selling 379,880 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Globus Medical were worth $56,208,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of Globus Medical by 1.5% in the 2nd quarter. AQR Capital Management LLC now owns 15,241 shares of the medical device company’s stock valued at $1,044,000 after buying an additional 228 shares during the last quarter. Creative Planning boosted its stake in Globus Medical by 16.8% in the second quarter. Creative Planning now owns 6,157 shares of the medical device company’s stock valued at $422,000 after acquiring an additional 886 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Globus Medical during the second quarter worth about $611,000. GAMMA Investing LLC increased its position in shares of Globus Medical by 40.7% during the third quarter. GAMMA Investing LLC now owns 888 shares of the medical device company’s stock worth $64,000 after purchasing an additional 257 shares in the last quarter. Finally, Atomi Financial Group Inc. purchased a new stake in shares of Globus Medical in the 3rd quarter valued at about $258,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Activity at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Kelly Huller sold 2,500 shares of the firm’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 disclosure for this sale can be found here. Company insiders own 18.54% of the company’s stock.

Analyst Ratings Changes

GMED has been the topic of a number of research reports. BTIG Research raised their price target on Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. StockNews.com cut shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research note on Thursday. Truist Financial lifted their price objective on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group raised their price target on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.91.

Globus Medical Stock Performance

Globus Medical stock opened at $87.60 on Friday. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The company has a market cap of $11.93 billion, a P/E ratio of 130.75, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The business has a fifty day moving average of $86.56 and a two-hundred day moving average of $78.13.

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.