Goldman Sachs Group Inc. raised its position in shares of Globus Medical, Inc. (NYSE:GMED) by 26.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,090 shares of the medical device company’s stock after purchasing an additional 34,513 shares during the period. Goldman Sachs Group Inc. owned approximately 0.23% of Globus Medical worth $5,505,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in GMED. First Trust Advisors LP acquired a new position in Globus Medical during the first quarter valued at approximately $229,000. UBS Asset Management Americas Inc. raised its position in Globus Medical by 30.3% during the first quarter. UBS Asset Management Americas Inc. now owns 201,635 shares of the medical device company’s stock valued at $5,972,000 after purchasing an additional 46,857 shares in the last quarter. Karp Capital Management Corp acquired a new position in Globus Medical during the first quarter valued at approximately $435,000. Ameriprise Financial Inc. raised its position in Globus Medical by 10.6% during the first quarter. Ameriprise Financial Inc. now owns 233,963 shares of the medical device company’s stock valued at $6,945,000 after purchasing an additional 22,468 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Globus Medical by 22.1% during the first quarter. Victory Capital Management Inc. now owns 4,590 shares of the medical device company’s stock valued at $136,000 after purchasing an additional 830 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.
Shares of Globus Medical, Inc. (GMED) opened at 30.65 on Monday. The firm’s 50 day moving average is $29.97 and its 200-day moving average is $30.88. Globus Medical, Inc. has a 1-year low of $19.25 and a 1-year high of $34.03. The company has a market cap of $2.95 billion, a PE ratio of 27.61 and a beta of 0.56.
Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The firm had revenue of $152.39 million for the quarter, compared to analysts’ expectations of $150.94 million. Globus Medical had a net margin of 18.12% and a return on equity of 13.99%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $0.29 EPS. Equities analysts expect that Globus Medical, Inc. will post $1.27 earnings per share for the current year.
In other news, insider A Brett Murphy sold 15,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $29.99, for a total transaction of $449,850.00. Following the sale, the insider now owns 101,217 shares in the company, valued at approximately $3,035,497.83. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 28.21% of the company’s stock.
Several research analysts have commented on GMED shares. BidaskClub downgraded shares of Globus Medical from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 26th. Zacks Investment Research downgraded shares of Globus Medical from a “hold” rating to a “sell” rating in a research report on Monday, September 4th. Barclays PLC lowered their price objective on shares of Globus Medical from $28.00 to $27.00 and set an “underweight” rating for the company in a research report on Thursday. 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. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $30.57.
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.
Want to see what other hedge funds are holding GMED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globus Medical, Inc. (NYSE:GMED).
Receive News & Ratings for Globus Medical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.