Globus Medical, Inc. $GMED Holdings Lowered by Vaughan Nelson Investment Management L.P.

Key Points

• Vaughan Nelson Investment Management L.P. has reduced its stake in Globus Medical by 20.3%, now holding approximately 582,562 shares valued at $34.4 million.
• Several other institutional investors have significantly increased their holdings, with increases up to 1,007.7% reported by Larson Financial Group LLC.
• Globus Medical reported a net margin of 13.58% and beat EPS expectations, posting earnings of $0.86 and revenue of $745.34 million for the last quarter.

Vaughan Nelson Investment Management L.P. trimmed its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 20.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 582,562 shares of the medical device company's stock after selling 148,630 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.43% of Globus Medical worth $34,383,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in shares of Globus Medical by 145.5% in the 1st quarter. Farther Finance Advisors LLC now owns 405 shares of the medical device company's stock worth $30,000 after purchasing an additional 240 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Globus Medical by 1,007.7% in the 1st quarter. Larson Financial Group LLC now owns 432 shares of the medical device company's stock worth $32,000 after purchasing an additional 393 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Globus Medical by 62.1% in the first quarter. Parallel Advisors LLC now owns 504 shares of the medical device company's stock worth $37,000 after acquiring an additional 193 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Globus Medical by 932.1% in the first quarter. Versant Capital Management Inc now owns 547 shares of the medical device company's stock worth $40,000 after acquiring an additional 494 shares in the last quarter. Finally, Whittier Trust Co. increased its position in shares of Globus Medical by 46.5% in the first quarter. Whittier Trust Co. now owns 580 shares of the medical device company's stock worth $42,000 after acquiring an additional 184 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, Director Ann D. Rhoads sold 10,000 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $58.46, for a total value of $584,600.00. Following the completion of the sale, the director owned 25,384 shares in the company, valued at approximately $1,483,948.64. This trade represents a 28.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 18.51% of the company's stock.

Wall Street Analyst Weigh In

GMED has been the topic of several analyst reports. Canaccord Genuity Group dropped their target price on shares of Globus Medical from $97.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, July 22nd. Barclays reissued an "overweight" rating on shares of Globus Medical in a research report on Tuesday, June 10th. Needham & Company LLC reissued a "hold" rating on shares of Globus Medical in a research report on Monday, July 21st. Wells Fargo & Company dropped their target price on shares of Globus Medical from $76.00 to $66.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Finally, Morgan Stanley lowered their price objective on shares of Globus Medical from $75.00 to $68.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Globus Medical has an average rating of "Moderate Buy" and an average price target of $87.64.

Globus Medical Trading Up 4.3%

NYSE GMED opened at $60.55 on Friday. The company has a market cap of $8.18 billion, a P/E ratio of 23.29, a P/E/G ratio of 1.59 and a beta of 1.12. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $94.93. The company has a fifty day simple moving average of $58.18 and a 200 day simple moving average of $61.98.

Globus Medical (NYSE:GMED - Get Free Report) last released its earnings results on Thursday, August 7th. The medical device company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. The firm had revenue of $745.34 million during the quarter, compared to analysts' expectations of $738.91 million. During the same period in the prior year, the company earned $0.75 EPS. The business's quarterly revenue was up 18.4% compared to the same quarter last year. Equities research analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

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.

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