Sirios Capital Management L P Sells 11,026 Shares of Globus Medical, Inc. (NYSE:GMED)

Sirios Capital Management L P reduced its position in Globus Medical, Inc. (NYSE:GMED - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 368,163 shares of the medical device company's stock after selling 11,026 shares during the period. Globus Medical makes up about 5.5% of Sirios Capital Management L P's holdings, making the stock its 4th biggest holding. Sirios Capital Management L P owned approximately 0.27% of Globus Medical worth $30,451,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Globus Medical in the 4th quarter worth approximately $27,000. UMB Bank n.a. increased its holdings 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 valued at $45,000 after purchasing an additional 206 shares during the period. V Square Quantitative Management LLC raised its stake in shares of Globus Medical by 52.0% during 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. lifted its holdings in Globus Medical by 24.7% in 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 during the period. Finally, Huntington National Bank grew its position in 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 in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a report on Tuesday, March 18th. Wells Fargo & Company lowered their price target on Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Stifel Nicolaus upped 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. Bank of America raised Globus Medical from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Finally, Barclays raised their price objective on shares of Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $96.91.

Globus Medical Price Performance

Shares of GMED stock traded down $0.99 on Monday, hitting $71.81. The company's stock had a trading volume of 229,744 shares, compared to its average volume of 1,038,460. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of 95.72, a P/E/G ratio of 1.61 and a beta of 1.28. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The firm's fifty day moving average price is $74.30 and its 200-day moving average price is $80.16.

Globus Medical (NYSE:GMED - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.74 by $0.10. The company had revenue of $657.29 million for the quarter, compared to the consensus estimate of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. 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.