Ameriprise Financial Inc. Has $11.24 Million Position in Globus Medical, Inc. (GMED)

Ameriprise Financial Inc. increased its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 43.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 336,243 shares of the medical device company’s stock after purchasing an additional 102,280 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.47% of Globus Medical worth $11,243,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Globus Medical by 0.3% during the 2nd 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 purchasing an additional 31 shares during the last quarter. Alps Advisors Inc. increased its position in Globus Medical by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 17,464 shares of the medical device company’s stock valued at $579,000 after buying an additional 45 shares in the last quarter. Advantus Capital Management Inc increased its position in Globus Medical by 3.0% during the 1st quarter. Advantus Capital Management Inc now owns 9,209 shares of the medical device company’s stock valued at $273,000 after buying an additional 270 shares in the last quarter. Renaissance Group LLC increased its position in Globus Medical by 2.4% during the 2nd quarter. Renaissance Group LLC now owns 11,591 shares of the medical device company’s stock valued at $384,000 after buying an additional 277 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Globus Medical by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 30,400 shares of the medical device company’s stock valued at $1,008,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 65.64% of the company’s stock.

GMED has been the topic of several recent analyst reports. BidaskClub raised Globus Medical from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research lowered Globus Medical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Globus Medical in a research report on Tuesday, July 11th. Oppenheimer Holdings, Inc. set a $35.00 target price on Globus Medical and gave the company a “hold” rating in a research report on Thursday, August 3rd. Finally, Barclays PLC reaffirmed an “underweight” rating and set a $28.00 target price (down from $30.00) on shares of Globus Medical in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $30.71.

In other Globus Medical news, insider A Brett Murphy sold 15,000 shares of Globus Medical stock in a transaction dated Wednesday, September 6th. The stock was 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 of the company’s stock, valued at approximately $3,035,497.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 28.21% of the stock is owned by insiders.

COPYRIGHT VIOLATION NOTICE: This report was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://ledgergazette.com/2017/10/11/ameriprise-financial-inc-has-11-24-million-position-in-globus-medical-inc-gmed.html.

Globus Medical, Inc. (NYSE:GMED) opened at 29.69 on Wednesday. Globus Medical, Inc. has a 12 month low of $19.25 and a 12 month high of $34.03. The company’s 50-day moving average price is $29.93 and its 200 day moving average price is $30.90. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 26.75 and a beta of 0.56.

Globus Medical (NYSE:GMED) la

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Globus Medical by 0.3% during the 2nd 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 purchasing an additional 31 shares during the last quarter. Alps Advisors Inc. increased its position in Globus Medical by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 17,464 shares of the medical device company’s stock valued at $579,000 after buying an additional 45 shares in the last quarter. Advantus Capital Management Inc increased its position in Globus Medical by 3.0% during the 1st quarter. Advantus Capital Management Inc now owns 9,209 shares of the medical device company’s stock valued at $273,000 after buying an additional 270 shares in the last quarter. Renaissance Group LLC increased its position in Globus Medical by 2.4% during the 2nd quarter. Renaissance Group LLC now owns 11,591 shares of the medical device company’s stock valued at $384,000 after buying an additional 277 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Globus Medical by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 30,400 shares of the medical device company’s stock valued at $1,008,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 65.64% of the company’s stock.

GMED has been the topic of several recent analyst reports. BidaskClub raised Globus Medical from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research lowered Globus Medical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Globus Medical in a research report on Tuesday, July 11th. Oppenheimer Holdings, Inc. set a $35.00 target price on Globus Medical and gave the company a “hold” rating in a research report on Thursday, August 3rd. Finally, Barclays PLC reaffirmed an “underweight” rating and set a $28.00 target price (down from $30.00) on shares of Globus Medical in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $30.71.

In other Globus Medical news, insider A Brett Murphy sold 15,000 shares of Globus Medical stock in a transaction dated Wednesday, September 6th. The stock was 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 of the company’s stock, valued at approximately $3,035,497.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 28.21% of the stock is owned by insiders.

COPYRIGHT VIOLATION NOTICE: This report was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://ledgergazette.com/2017/10/11/ameriprise-financial-inc-has-11-24-million-position-in-globus-medical-inc-gmed.html.

Globus Medical, Inc. (NYSE:GMED) opened at 29.69 on Wednesday. Globus Medical, Inc. has a 12 month low of $19.25 and a 12 month high of $34.03. The company’s 50-day moving average price is $29.93 and its 200 day moving average price is $30.90. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 26.75 and a beta of 0.56.

Globus Medical (NYSE:GMED) last announced 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. The company had revenue of $152.39 million during the quarter, compared to the consensus estimate of $150.94 million. Globus Medical had a return on equity of 13.99% and a net margin of 18.12%. Globus Medical’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 EPS. Analysts predict that Globus Medical, Inc. will post $1.26 EPS for the current year.

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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