Globus Medical, Inc. (GMED) Position Boosted by LaSalle Street Capital Management LLC

LaSalle Street Capital Management LLC increased its position in shares of Globus Medical, Inc. (NYSE:GMED) by 66.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,239 shares of the medical device company’s stock after buying an additional 5,268 shares during the period. LaSalle Street Capital Management LLC’s holdings in Globus Medical were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Globus Medical by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,538 shares of the medical device company’s stock worth $349,000 after buying an additional 31 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in 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 period. Alps Advisors Inc. boosted its position in Globus Medical by 0.3% during the second quarter. Alps Advisors Inc. now owns 17,464 shares of the medical device company’s stock worth $579,000 after purchasing an additional 45 shares during the period. Advisor Group Inc. boosted its position in 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 period. Finally, 1st Global Advisors Inc. boosted its position in Globus Medical by 1.2% during the second quarter. 1st Global Advisors Inc. now owns 11,308 shares of the medical device company’s stock worth $375,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 65.59% of the company’s stock.

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Shares of Globus Medical, Inc. (GMED) traded down $0.42 during trading on Friday, hitting $36.59. 703,710 shares of the stock were exchanged, compared to its average volume of 868,998. The company has a market capitalization of $3,523.29, a PE ratio of 29.27, a PEG ratio of 2.85 and a beta of 0.55. Globus Medical, Inc. has a 52 week low of $20.81 and a 52 week high of $38.04.

Globus Medical (NYSE:GMED) last announced its earnings results on Wednesday, November 8th. The medical device company reported $0.30 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.30. The company had revenue of $151.74 million during the quarter, compared to analysts’ expectations of $150.73 million. Globus Medical had a net margin of 17.54% and a return on equity of 13.67%. Globus Medical’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 earnings per share. analysts expect that Globus Medical, Inc. will post 1.27 EPS for the current fiscal year.

A number of equities analysts have commented on the stock. Gabelli reaffirmed a “buy” rating on shares of Globus Medical in a research report on Tuesday, November 14th. ValuEngine raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Zacks Investment Research raised shares of Globus Medical from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. BidaskClub raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Bank of America Corporation raised shares of Globus Medical from an “underperform” rating to a “neutral” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Globus Medical has a consensus rating of “Buy” and an average price target of $34.00.

In other news, insider A Brett Murphy sold 15,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $29.99, for a total value of $449,850.00. Following the completion of the sale, the insider now owns 101,217 shares of the company’s stock, valued at $3,035,497.83. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 28.21% of the company’s stock.

About Globus Medical

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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Institutional Ownership by Quarter for Globus Medical (NYSE:GMED)

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