Teachers Advisors LLC boosted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 7.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,885 shares of the medical device company’s stock after acquiring an additional 8,487 shares during the period. Teachers Advisors LLC owned 0.18% of Globus Medical worth $4,239,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Riverhead Capital Management LLC increased its stake in shares of Globus Medical by 87.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,361 shares of the medical device company’s stock valued at $211,000 after purchasing an additional 2,961 shares during the last quarter. AJO LP bought a new position in shares of Globus Medical in the 2nd quarter valued at $1,262,000. Oak Ridge Investments LLC increased its stake in shares of Globus Medical by 2.3% in the 2nd quarter. Oak Ridge Investments LLC now owns 1,693,195 shares of the medical device company’s stock valued at $56,129,000 after purchasing an additional 38,519 shares during the last quarter. Martingale Asset Management L P increased its stake in shares of Globus Medical by 15.2% in the 2nd quarter. Martingale Asset Management L P now owns 42,512 shares of the medical device company’s stock valued at $1,410,000 after purchasing an additional 5,600 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Globus Medical by 62.8% in the 2nd quarter. Alliancebernstein L.P. now owns 179,301 shares of the medical device company’s stock valued at $5,944,000 after purchasing an additional 69,160 shares during the last quarter. Institutional investors own 65.64% of the company’s stock.
In other 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 transaction of $449,850.00. Following the completion of the sale, the insider now directly owns 101,217 shares in the company, valued at $3,035,497.83. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 28.21% of the company’s stock.
Globus Medical, Inc. (GMED) opened at 29.00 on Friday. Globus Medical, Inc. has a one year low of $19.25 and a one year high of $34.03. The firm has a market capitalization of $2.79 billion, a P/E ratio of 26.13 and a beta of 0.56. The firm’s 50-day moving average price is $29.90 and its 200 day moving average price is $30.87.
Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. Globus Medical had a return on equity of 13.99% and a net margin of 18.12%. The firm had revenue of $152.39 million for the quarter, compared to analysts’ expectations of $150.94 million. During the same period last year, the firm earned $0.29 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts anticipate that Globus Medical, Inc. will post $1.26 earnings per share for the current fiscal year.
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Several equities analysts have recently issued reports on GMED shares. BidaskClub lowered Globus Medical from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Zacks Investment Research lowered Globus Medical from a “hold” rating to a “sell” rating in a research report on Monday, September 4th. Canaccord Genuity restated a “buy” rating and set a $37.00 price objective on shares of Globus Medical in a research report on Friday, August 18th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 30th. Finally, BTIG Research started coverage on Globus Medical in a research report on Thursday, September 7th. They set a “buy” rating and a $37.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $30.71.
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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