Columbia Partners L L C Investment Management purchased a new position in shares of Globus Medical, Inc. (NYSE:GMED) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 99,667 shares of the medical device company’s stock, valued at approximately $2,962,000. Columbia Partners L L C Investment Management owned 0.10% of Globus Medical at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in Globus Medical by 260.0% in the 2nd quarter. Janus Henderson Group PLC now owns 2,683,312 shares of the medical device company’s stock valued at $88,952,000 after buying an additional 1,938,039 shares during the last quarter. American Century Companies Inc. acquired a new stake in Globus Medical in the 3rd quarter valued at approximately $24,126,000. Koch Industries Inc. raised its position in Globus Medical by 3,950.6% in the 2nd quarter. Koch Industries Inc. now owns 479,431 shares of the medical device company’s stock valued at $465,000 after buying an additional 467,595 shares during the last quarter. Vanguard Group Inc. raised its position in Globus Medical by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 5,635,698 shares of the medical device company’s stock valued at $166,929,000 after buying an additional 240,257 shares during the last quarter. Finally, APG Asset Management N.V. acquired a new stake in Globus Medical in the 3rd quarter valued at approximately $6,946,000. 65.59% of the stock is currently owned by institutional investors.
In other news, insider A Brett Murphy sold 15,000 shares of Globus Medical stock in a transaction that occurred on 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 transaction, the insider now directly owns 101,217 shares in the company, valued at approximately $3,035,497.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 28.21% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Gabelli reissued a “buy” rating on shares of Globus Medical in a research report on Tuesday. ValuEngine raised Globus Medical from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Zacks Investment Research raised Globus Medical from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. BidaskClub raised Globus Medical from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Bank of America Corporation raised Globus Medical from an “underperform” rating to a “neutral” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $34.00.
Globus Medical, Inc. (GMED) traded down $0.15 during trading hours on Friday, hitting $37.01. The company’s stock had a trading volume of 985,500 shares, compared to its average volume of 683,481. The firm has a market cap of $3,540.00, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. Globus Medical, Inc. has a 52-week low of $20.81 and a 52-week high of $38.04.
Globus Medical (NYSE:GMED) last issued its earnings results on Wednesday, November 8th. The medical device company reported $0.30 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The company had revenue of $151.74 million during the quarter, compared to the consensus estimate of $150.73 million. During the same period in the previous year, the company posted $0.29 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. sell-side analysts predict that Globus Medical, Inc. will post 1.27 earnings per share for the current fiscal year.
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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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