Tudor Investment Corp ET AL decreased its stake in Globus Medical, Inc. (NYSE:GMED) by 20.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,900 shares of the medical device company’s stock after selling 2,300 shares during the period. Tudor Investment Corp ET AL’s holdings in Globus Medical were worth $264,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Jane Street Group LLC bought a new stake in shares of Globus Medical during the first quarter valued at approximately $215,000. AQR Capital Management LLC raised its stake in shares of Globus Medical by 29.8% in the first quarter. AQR Capital Management LLC now owns 128,246 shares of the medical device company’s stock valued at $3,799,000 after buying an additional 29,471 shares in the last quarter. State Street Corp raised its stake in shares of Globus Medical by 3.6% in the first quarter. State Street Corp now owns 2,246,728 shares of the medical device company’s stock valued at $66,545,000 after buying an additional 77,604 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Globus Medical by 17.5% in the first quarter. Bank of America Corp DE now owns 578,179 shares of the medical device company’s stock valued at $17,125,000 after buying an additional 86,033 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Globus Medical during the first quarter valued at approximately $254,000. Hedge funds and other institutional investors own 69.45% of the company’s stock.
Globus Medical, Inc. (GMED) opened at 29.30 on Friday. The stock’s 50 day moving average is $31.79 and its 200-day moving average is $30.14. Globus Medical, Inc. has a 52 week low of $19.25 and a 52 week high of $34.03. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 26.40 and a beta of 0.60.
Globus Medical (NYSE:GMED) last posted 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 for the quarter, compared to the consensus estimate of $150.94 million. During the same period last year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities research analysts expect that Globus Medical, Inc. will post $1.27 EPS for the current year.
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Several brokerages recently commented on GMED. Barclays PLC reiterated an “underweight” rating and set a $28.00 price target (down from $30.00) on shares of Globus Medical in a research note on Wednesday. Zacks Investment Research lowered shares of Globus Medical from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Gabelli restated a “buy” rating on shares of Globus Medical in a research note on Friday, August 4th. Oppenheimer Holdings, Inc. set a $35.00 price objective on shares of Globus Medical and gave the company a “hold” rating in a research note on Thursday, August 3rd. Finally, BidaskClub lowered shares of Globus Medical from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $30.43.
In related news, President Anthony L. Williams sold 16,153 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $31.94, for a total value of $515,926.82. Following the sale, the president now owns 16,153 shares of the company’s stock, valued at approximately $515,926.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 28.21% of the stock is owned by company 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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