Fiera Capital Corp cut its position in shares of Globus Medical, Inc. (NYSE:GMED) by 12.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 201,196 shares of the medical device company’s stock after selling 28,958 shares during the period. Fiera Capital Corp owned about 0.28% of Globus Medical worth $6,669,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. grew its position in Globus Medical by 18.9% in the second quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock valued at $105,000 after acquiring an additional 503 shares during the period. Elkfork Partners LLC bought a new stake in Globus Medical in the first quarter valued at $114,000. Victory Capital Management Inc. grew its position in Globus Medical by 22.1% in the first quarter. Victory Capital Management Inc. now owns 4,590 shares of the medical device company’s stock valued at $136,000 after acquiring an additional 830 shares during the period. Meadow Creek Investment Management LLC bought a new stake in Globus Medical in the first quarter valued at $138,000. Finally, Turner Investments LLC bought a new stake in Globus Medical in the second quarter valued at $166,000. Institutional investors and hedge funds own 65.80% of the company’s stock.
A number of brokerages have weighed in on GMED. BidaskClub upgraded Globus Medical from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research cut Globus Medical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Morgan Stanley reiterated an “equal weight” rating on shares of Globus Medical in a research report on Tuesday, July 11th. Oppenheimer Holdings, Inc. set a $35.00 price target on Globus Medical and gave the company a “hold” rating in a research report on Thursday, August 3rd. Finally, Barclays PLC reiterated an “underweight” rating and issued a $28.00 price target (down from $30.00) on shares of Globus Medical in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $31.25.
Shares of Globus Medical, Inc. (GMED) opened at 30.15 on Friday. Globus Medical, Inc. has a one year low of $19.25 and a one year high of $34.03. The stock’s 50 day moving average price is $29.87 and its 200 day moving average price is $30.65. The company has a market cap of $2.90 billion, a PE ratio of 27.16 and a beta of 0.60.
Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Globus Medical had a return on equity of 13.99% and a net margin of 18.12%. The company had revenue of $152.39 million for the quarter, compared to analyst estimates of $150.94 million. During the same quarter last year, the company posted $0.29 EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts predict that Globus Medical, Inc. will post $1.27 earnings per share for the current fiscal year.
In other news, insider A Brett Murphy sold 15,000 shares of Globus Medical stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $29.99, for a total value of $449,850.00. Following the transaction, the insider now owns 101,217 shares in the company, valued at approximately $3,035,497.83. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 28.21% of the company’s stock.
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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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