Globus Medical, Inc. (NYSE:GMED) Stock Holdings Lowered by Janus Henderson Group PLC

Janus Henderson Group PLC cut its position in shares of Globus Medical, Inc. (NYSE:GMED) by 5.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,997,667 shares of the medical device company’s stock after selling 387,222 shares during the quarter. Janus Henderson Group PLC owned 5.17% of Globus Medical worth $500,612,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. raised its holdings in shares of Globus Medical by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 2,514,891 shares of the medical device company’s stock valued at $172,245,000 after buying an additional 35,054 shares during the last quarter. Magnetar Financial LLC grew its holdings in shares of Globus Medical by 1.7% during the 2nd quarter. Magnetar Financial LLC now owns 1,718,487 shares of the medical device company’s stock worth $117,699,000 after purchasing an additional 29,200 shares in the last quarter. Geneva Capital Management LLC lifted its holdings in shares of Globus Medical by 1.1% in the third quarter. Geneva Capital Management LLC now owns 1,598,130 shares of the medical device company’s stock worth $114,330,000 after acquiring an additional 18,117 shares during the last quarter. AXA S.A. raised its holdings in Globus Medical by 0.5% during the 2nd quarter. AXA S.A. now owns 1,478,242 shares of the medical device company’s stock worth $101,245,000 after purchasing an additional 7,443 shares during the last quarter. Finally, Millennium Management LLC grew its position in Globus Medical by 1,171.5% in the 2nd quarter. Millennium Management LLC now owns 1,363,834 shares of the medical device company’s stock valued at $93,409,000 after purchasing an additional 1,256,570 shares during the period. Institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Performance

Shares of 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 firm 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 has a 50 day moving average price of $76.52 and a 200-day moving average price of $71.77.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The business had revenue of $625.71 million during the quarter, compared to analyst estimates of $604.69 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. The company’s revenue for the quarter was up 63.1% compared to the same quarter last year. On average, equities analysts forecast that Globus Medical, Inc. will post 2.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Kelly Huller sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total transaction of $405,050.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ann D. Rhoads sold 15,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the transaction, the director now owns 42,884 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders sold 110,000 shares of company stock worth $8,512,850. Corporate insiders own 18.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. BTIG Research lifted their target price on Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Wells Fargo & Company lifted their target price on Globus Medical from $78.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Bank of America boosted their price target on Globus Medical from $55.00 to $80.00 and gave the company an “underperform” rating in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus increased their target price on Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.