Champlain Investment Partners LLC Sells 695,865 Shares of Globus Medical, Inc. (NYSE:GMED)

Champlain Investment Partners LLC lowered its stake in Globus Medical, Inc. (NYSE:GMED - Free Report) by 38.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,098,772 shares of the medical device company's stock after selling 695,865 shares during the quarter. Champlain Investment Partners LLC owned about 0.81% of Globus Medical worth $90,879,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new position in Globus Medical during the fourth quarter worth about $27,000. UMB Bank n.a. increased its stake in Globus Medical by 60.2% in the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock valued at $45,000 after purchasing an additional 206 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in Globus Medical by 52.0% in the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company's stock worth $48,000 after purchasing an additional 197 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Globus Medical by 24.7% during the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company's stock worth $55,000 after purchasing an additional 132 shares in the last quarter. Finally, Huntington National Bank grew its holdings in shares of Globus Medical by 47.8% in the 4th quarter. Huntington National Bank now owns 958 shares of the medical device company's stock valued at $79,000 after buying an additional 310 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on GMED. Truist Financial reduced their target price on Globus Medical from $82.00 to $80.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Stifel Nicolaus lifted their price objective on Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a report on Friday, February 21st. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research report on Tuesday, March 18th. Wells Fargo & Company cut their price target on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Finally, Bank of America upgraded shares of Globus Medical from an "underperform" rating to a "neutral" rating and upped their price target for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $96.91.

Globus Medical Price Performance

NYSE GMED traded up $0.59 on Tuesday, hitting $69.98. 254,967 shares of the stock were exchanged, compared to its average volume of 1,037,326. The company has a market capitalization of $9.63 billion, a PE ratio of 93.32, a P/E/G ratio of 1.61 and a beta of 1.28. The business's fifty day moving average is $75.28 and its 200 day moving average is $80.10. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93.

Globus Medical (NYSE:GMED - Get Free Report) last issued its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The company had revenue of $657.29 million for the quarter, compared to analysts' expectations of $646.19 million. Analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Globus Medical 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.