Globus Medical, Inc. (NYSE:GMED) Stake Lowered by Motley Fool Wealth Management LLC

Key Points

• Motley Fool Wealth Management LLC significantly reduced its stake in Globus Medical by 39.5% in the first quarter, now holding approximately 0.09% worth $8.6 million.
• Despite the sell-off from some investors, shares of Globus Medical rose 8.8% recently, with a current market capitalization of $7.97 billion.
• The company reported $0.86 EPS for the last quarter, exceeding expectations, with a revenue increase of 18.4% year-over-year.

Motley Fool Wealth Management LLC cut its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 39.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,534 shares of the medical device company's stock after selling 76,890 shares during the quarter. Motley Fool Wealth Management LLC owned approximately 0.09% of Globus Medical worth $8,603,000 as of its most recent SEC filing.

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

Globus Medical Stock Up 8.8%

Shares of NYSE:GMED opened at $58.84 on Monday. The company's fifty day moving average is $57.08 and its two-hundred day moving average is $68.26. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $94.93. The company has a market cap of $7.97 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20.

Globus Medical (NYSE:GMED - Get Free Report) last announced its earnings results on Thursday, August 7th. The medical device company reported $0.86 earnings per share (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 company had revenue of $745.34 million for the quarter, compared to the consensus estimate of $738.91 million. During the same period in the previous year, the business earned $0.75 EPS. The company's revenue was up 18.4% on a year-over-year basis. Equities research analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Globus Medical declared that its board has authorized a share buyback program on Thursday, May 15th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the medical device company to purchase up to 6.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GMED shares. BTIG Research reiterated a "neutral" rating on shares of Globus Medical in a research report on Tuesday, May 27th. Wall Street Zen upgraded Globus Medical from a "hold" rating to a "buy" rating in a research report on Saturday. Wells Fargo & Company cut their target price on Globus Medical from $76.00 to $66.00 and set an "overweight" rating for the company in a research report on Friday. Needham & Company LLC restated a "hold" rating on shares of Globus Medical in a research report on Monday, July 21st. Finally, JMP Securities restated a "market perform" rating on shares of Globus Medical in a research report on Tuesday, May 27th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.64.

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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