Boothbay Fund Management LLC Sells 142,371 Shares of Globus Medical, Inc. (NYSE:GMED)

Boothbay Fund Management LLC lowered its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 83.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,896 shares of the medical device company's stock after selling 142,371 shares during the period. Boothbay Fund Management LLC's holdings in Globus Medical were worth $2,307,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GMED. SBI Securities Co. Ltd. acquired a new position in shares of Globus Medical in the 4th quarter worth approximately $27,000. UMB Bank n.a. lifted its position in shares of Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock worth $45,000 after purchasing an additional 206 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in shares of 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 valued at $48,000 after purchasing an additional 197 shares in the last quarter. First Horizon Advisors Inc. raised its position in Globus Medical by 24.7% in the 4th 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 during the last quarter. Finally, Huntington National Bank lifted its holdings in Globus Medical by 47.8% during the 4th quarter. Huntington National Bank now owns 958 shares of the medical device company's stock worth $79,000 after buying an additional 310 shares in the last quarter. Institutional investors own 95.16% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GMED. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research note on Tuesday, March 18th. Barclays raised their target price on shares of Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Stifel Nicolaus boosted their price target on shares of Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Wells Fargo & Company reduced their price objective 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 target price for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Globus Medical presently has a consensus rating of "Moderate Buy" and an average target price of $96.91.

Globus Medical Price Performance

GMED traded down $0.62 during trading on Thursday, reaching $71.15. The company had a trading volume of 707,346 shares, compared to its average volume of 1,042,908. The company has a market cap of $9.79 billion, a P/E ratio of 94.87, a PEG ratio of 1.61 and a beta of 1.28. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93. The business's fifty day moving average price is $73.66 and its 200 day moving average price is $80.06.

Globus Medical (NYSE:GMED - Get Free Report) last announced its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping 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 firm had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. As a group, sell-side analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

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.