Aperio Group LLC raised its position in Globus Medical Inc (NYSE:GMED) by 5.0% during the second quarter, HoldingsChannel reports. The firm owned 73,227 shares of the medical device company’s stock after buying an additional 3,508 shares during the quarter. Aperio Group LLC’s holdings in Globus Medical were worth $3,695,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GMED. Moneta Group Investment Advisors LLC acquired a new stake in shares of Globus Medical in the first quarter worth about $106,000. Thompson Davis & CO. Inc. lifted its position in shares of Globus Medical by 1,820.0% in the first quarter. Thompson Davis & CO. Inc. now owns 2,400 shares of the medical device company’s stock worth $120,000 after buying an additional 2,275 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Globus Medical in the first quarter worth about $126,000. Smithfield Trust Co. lifted its position in shares of Globus Medical by 3,711.1% in the first quarter. Smithfield Trust Co. now owns 3,430 shares of the medical device company’s stock worth $171,000 after buying an additional 3,340 shares during the last quarter. Finally, Clarus Wealth Advisors acquired a new stake in shares of Globus Medical in the second quarter worth about $194,000. Hedge funds and other institutional investors own 62.77% of the company’s stock.
In related news, VP Eric Schwartz sold 10,000 shares of the business’s stock in a transaction dated Monday, June 25th. The stock was sold at an average price of $53.79, for a total transaction of $537,900.00. Following the completion of the transaction, the vice president now owns 10,000 shares of the company’s stock, valued at approximately $537,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David C. Paul sold 6,841 shares of the business’s stock in a transaction dated Tuesday, July 17th. The stock was sold at an average price of $52.95, for a total value of $362,230.95. Following the transaction, the insider now directly owns 605,871 shares of the company’s stock, valued at approximately $32,080,869.45. The disclosure for this sale can be found here. Insiders have sold a total of 159,279 shares of company stock valued at $8,889,746 in the last three months. 28.44% of the stock is owned by insiders.
Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Wednesday, August 1st. The medical device company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.09. Globus Medical had a return on equity of 15.14% and a net margin of 19.91%. The business had revenue of $173.40 million during the quarter, compared to analysts’ expectations of $168.03 million. During the same quarter in the previous year, the firm earned $0.32 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. analysts forecast that Globus Medical Inc will post 1.55 earnings per share for the current fiscal year.
A number of brokerages have weighed in on GMED. Zacks Investment Research cut Globus Medical from a “buy” rating to a “hold” rating in a research report on Monday. Needham & Company LLC boosted their price target on Globus Medical from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, May 3rd. Oppenheimer set a $52.00 price target on Globus Medical and gave the stock a “hold” rating in a research report on Thursday, May 3rd. Morgan Stanley boosted their price target on Globus Medical from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, May 3rd. Finally, ValuEngine raised Globus Medical from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $54.36.
About Globus Medical
Globus Medical, Inc, a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address an array of spinal pathologies, anatomies, and surgical approaches. Its fusion products include a range of implant and surgical approach options to treat degenerative, deformity, tumor, and trauma conditions along the spine from the occiput to the sacrum.
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