Paradice Investment Management LLC Sells 157,430 Shares of Globus Medical, Inc. (NYSE:GMED)

Paradice Investment Management LLC cut its position in Globus Medical, Inc. (NYSE:GMED) by 26.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 436,680 shares of the medical device company’s stock after selling 157,430 shares during the quarter. Globus Medical comprises about 7.2% of Paradice Investment Management LLC’s portfolio, making the stock its 2nd biggest holding. Paradice Investment Management LLC owned approximately 0.32% of Globus Medical worth $36,118,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. increased its stake in shares of Globus Medical by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock valued at $447,000 after buying an additional 131 shares during the period. Stephens Inc. AR increased its stake in shares of Globus Medical by 3.4% in the third quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock valued at $303,000 after buying an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Globus Medical by 2.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock valued at $403,000 after buying an additional 140 shares during the period. Berry Wealth Group LP increased its stake in shares of Globus Medical by 5.1% in the fourth quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock valued at $282,000 after buying an additional 164 shares during the period. Finally, CIBC Asset Management Inc increased its stake in shares of Globus Medical by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company’s stock valued at $288,000 after buying an additional 175 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Insider Transactions at Globus Medical

In related 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 value of $1,250,804.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kelly Huller sold 2,500 shares of the 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. Insiders own 18.54% of the company’s stock.

Globus Medical Stock Down 0.2 %

Shares of GMED stock opened at $83.99 on Tuesday. The company has a market cap of $11.44 billion, a price-to-earnings ratio of 125.36, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93. The firm has a 50 day moving average of $86.65 and a 200-day moving average of $78.66.

Wall Street Analyst Weigh In

GMED has been the subject of several recent research reports. Truist Financial upped their price objective on Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. 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 report on Wednesday, November 6th. StockNews.com raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Friday. BTIG Research increased their target price on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Royal Bank of Canada increased their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Globus Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.91.

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.