First Mercantile Trust Co. trimmed its holdings in shares of Globus Medical Inc (NYSE:GMED) by 12.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,951 shares of the medical device company’s stock after selling 1,704 shares during the quarter. First Mercantile Trust Co.’s holdings in Globus Medical were worth $491,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in GMED. PNC Financial Services Group Inc. lifted its position in shares of Globus Medical by 1.2% during the second quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock worth $100,000 after purchasing an additional 35 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Globus Medical by 2.0% during the second quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock worth $114,000 after purchasing an additional 68 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Globus Medical by 39.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,183 shares of the medical device company’s stock worth $172,000 after purchasing an additional 1,183 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Globus Medical in the third quarter valued at about $177,000. Finally, Macquarie Group Ltd. bought a new stake in shares of Globus Medical in the third quarter valued at about $187,000. Institutional investors and hedge funds own 70.28% of the company’s stock.
In other Globus Medical news, Director David D. Davidar sold 55,383 shares of Globus Medical stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $40.66, for a total value of $2,251,872.78. Following the transaction, the director now owns 752,236 shares in the company, valued at $30,585,915.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Steven Payne sold 3,076 shares of Globus Medical stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $39.30, for a total value of $120,886.80. Following the completion of the transaction, the chief accounting officer now owns 23,847 shares in the company, valued at approximately $937,187.10. The disclosure for this sale can be found here. Insiders sold 73,459 shares of company stock valued at $2,947,260 over the last 90 days. 28.21% of the stock is currently owned by corporate insiders.
GMED has been the subject of several recent research reports. BidaskClub upgraded Globus Medical from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating in a report on Friday, November 10th. Zacks Investment Research upgraded Globus Medical from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. ValuEngine downgraded Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, BTIG Research restated a “buy” rating and issued a $37.00 price objective on shares of Globus Medical in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $40.57.
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Globus Medical Profile
Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.
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