NGAM Advisors L.P. reduced its position in shares of Globus Medical, Inc. (NYSE:GMED) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,180 shares of the medical device company’s stock after selling 547 shares during the period. NGAM Advisors L.P.’s holdings in Globus Medical were worth $669,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Elkfork Partners LLC acquired a new stake in shares of Globus Medical during the first quarter valued at $114,000. Victory Capital Management Inc. raised its stake in shares of Globus Medical by 22.1% in the first quarter. Victory Capital Management Inc. now owns 4,590 shares of the medical device company’s stock valued at $136,000 after buying an additional 830 shares during the period. Meadow Creek Investment Management LLC acquired a new stake in shares of Globus Medical during the first quarter valued at $138,000. OppenheimerFunds Inc. acquired a new stake in shares of Globus Medical during the first quarter valued at $200,000. Finally, LS Investment Advisors LLC raised its stake in shares of Globus Medical by 19.3% in the second quarter. LS Investment Advisors LLC now owns 6,152 shares of the medical device company’s stock valued at $204,000 after buying an additional 995 shares during the period. 69.35% of the stock is currently owned by institutional investors.
Globus Medical, Inc. (NYSE:GMED) opened at 30.11 on Friday. Globus Medical, Inc. has a 52 week low of $19.25 and a 52 week high of $34.03. The stock has a market capitalization of $2.90 billion, a P/E ratio of 27.13 and a beta of 0.60. The firm has a 50 day moving average price of $31.24 and a 200 day moving average price of $30.27.
Globus Medical (NYSE:GMED) last posted its earnings results on Wednesday, August 2nd. The medical device company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The company had revenue of $152.39 million during the quarter, compared to analyst estimates of $150.94 million. Globus Medical had a return on equity of 13.99% and a net margin of 18.12%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 earnings per share. Equities research analysts predict that Globus Medical, Inc. will post $1.27 earnings per share for the current year.
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Several brokerages have recently weighed in on GMED. Canaccord Genuity set a $37.00 target price on Globus Medical and gave the stock a “buy” rating in a research report on Thursday, May 18th. Barclays PLC restated a “sell” rating and set a $30.00 price target on shares of Globus Medical in a research note on Monday, May 15th. BidaskClub upgraded Globus Medical from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. Morgan Stanley restated an “equal weight” rating on shares of Globus Medical in a research note on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Globus Medical in a research note on Thursday, May 18th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $30.43.
In other news, President Anthony L. Williams sold 16,153 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $31.94, for a total transaction of $515,926.82. Following the completion of the transaction, the president now directly owns 16,153 shares of the company’s stock, valued at $515,926.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.21% of the stock is currently owned by corporate insiders.
Globus Medical Company 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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