Argent Capital Management LLC Purchases New Position in Globus Medical, Inc. (GMED)

Argent Capital Management LLC purchased a new stake in Globus Medical, Inc. (NYSE:GMED) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 14,345 shares of the medical device company’s stock, valued at approximately $476,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Globus Medical by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,538 shares of the medical device company’s stock valued at $349,000 after acquiring an additional 31 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Globus Medical by 1.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock valued at $100,000 after acquiring an additional 35 shares during the last quarter. Alps Advisors Inc. lifted its stake in shares of Globus Medical by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 17,464 shares of the medical device company’s stock valued at $579,000 after acquiring an additional 45 shares during the last quarter. Advisor Group Inc. lifted its stake in shares of Globus Medical by 2.0% in the 2nd quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock valued at $114,000 after acquiring an additional 68 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in shares of Globus Medical by 2.8% in the 2nd quarter. Citigroup Inc. now owns 5,950 shares of the medical device company’s stock valued at $197,000 after acquiring an additional 161 shares during the last quarter. Institutional investors own 65.64% of the company’s stock.

Several brokerages recently issued reports on GMED. Zacks Investment Research lowered Globus Medical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. BidaskClub lowered Globus Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Oppenheimer Holdings, Inc. set a $35.00 target price on Globus Medical and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Globus Medical in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Globus Medical currently has an average rating of “Hold” and an average target price of $30.71.

Shares of Globus Medical, Inc. (GMED) traded up 0.60% during mid-day trading on Tuesday, hitting $30.18. The stock had a trading volume of 66,977 shares. Globus Medical, Inc. has a 1-year low of $19.25 and a 1-year high of $34.03. The stock’s 50-day moving average is $29.92 and its 200 day moving average is $30.90. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 27.19 and a beta of 0.56.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. Globus Medical had a net margin of 18.12% and a return on equity of 13.99%. The company had revenue of $152.39 million during the quarter, compared to the consensus estimate of $150.94 million. During the same period in the prior year, the firm earned $0.29 earnings per share. Globus Medical’s revenue was up 10.8% on a year-over-year basis. Equities research analysts predict that Globus Medical, Inc. will post $1.26 EPS for the current fiscal year.

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In related news, insider A Brett Murphy sold 15,000 shares of the 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 transaction, the insider now directly owns 101,217 shares of the company’s stock, valued at $3,035,497.83. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 28.21% of the stock is 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.

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

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