Hennion & Walsh Asset Management Inc. Has $372,000 Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Hennion & Walsh Asset Management Inc. trimmed its position in Globus Medical, Inc. (NYSE:GMED) by 12.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,493 shares of the medical device company’s stock after selling 634 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Globus Medical were worth $372,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GMED. Select Equity Group L.P. acquired a new stake in Globus Medical during the 2nd quarter worth approximately $91,711,000. Millennium Management LLC raised its holdings in Globus Medical by 1,171.5% during the 2nd quarter. Millennium Management LLC now owns 1,363,834 shares of the medical device company’s stock worth $93,409,000 after buying an additional 1,256,570 shares during the period. ArrowMark Colorado Holdings LLC acquired a new stake in Globus Medical during the 3rd quarter worth approximately $43,947,000. Lord Abbett & CO. LLC acquired a new stake in Globus Medical during the 3rd quarter worth approximately $37,948,000. Finally, Parsifal Capital Management LP raised its holdings in Globus Medical by 50.5% during the 3rd quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock worth $96,619,000 after buying an additional 453,053 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on GMED. Canaccord Genuity Group raised their target price on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a report on Thursday, January 9th. Wells Fargo & Company raised their target price on shares of Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $83.00 to $100.00 in a research note on Monday, December 2nd. Finally, BTIG Research raised their target price on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.91.

Insiders Place Their Bets

In other news, SVP Kelly Huller sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total value of $405,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The disclosure for this sale can be found here. Insiders sold a total of 81,667 shares of company stock valued at $6,674,554 over the last ninety days. 18.54% of the stock is currently owned by company insiders.

Globus Medical Price Performance

GMED stock opened at $92.33 on Wednesday. The company has a fifty day moving average price of $84.25 and a two-hundred day moving average price of $76.16. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $92.42. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of 137.80, a price-to-earnings-growth ratio of 1.73 and a beta of 1.19.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The firm had revenue of $625.71 million during the quarter, compared to analysts’ expectations of $604.69 million. During the same period in the previous year, the business posted $0.57 earnings per share. The company’s revenue for the quarter was up 63.1% compared to the same quarter last year. Research analysts anticipate that Globus Medical, Inc. will post 2.98 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.