BRYN MAWR TRUST Co maintained its position in shares of Globus Medical, Inc. (NYSE:GMED) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,000 shares of the medical device company’s stock at the close of the 2nd quarter. BRYN MAWR TRUST Co’s holdings in Globus Medical were worth $1,127,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in shares of Globus Medical by 1.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock valued at $100,000 after buying an additional 35 shares during the period. Sei Investments Co. boosted its holdings in shares of Globus Medical by 18.9% in the 2nd quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock valued at $105,000 after buying an additional 503 shares during the period. Elkfork Partners LLC acquired a new position in shares of Globus Medical in the 1st quarter valued at about $114,000. Victory Capital Management Inc. boosted its holdings in shares of Globus Medical by 22.1% in the 1st quarter. Victory Capital Management Inc. now owns 4,590 shares of the medical device company’s stock valued at $136,000 after buying an additional 830 shares during the period. Finally, Meadow Creek Investment Management LLC acquired a new position in shares of Globus Medical in the 1st quarter valued at about $138,000. 65.64% of the stock is owned by institutional investors.
Globus Medical, Inc. (NYSE:GMED) traded up 0.94% during mid-day trading on Wednesday, hitting $30.19. 19,925 shares of the company were exchanged. The company has a 50 day moving average of $29.82 and a 200 day moving average of $30.72. The stock has a market cap of $2.91 billion, a P/E ratio of 27.20 and a beta of 0.60. Globus Medical, Inc. has a 12-month low of $19.25 and a 12-month high of $34.03.
Globus Medical (NYSE:GMED) last issued its earnings results on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $152.39 million for the quarter, compared to analyst estimates of $150.94 million. Globus Medical had a net margin of 18.12% and a return on equity of 13.99%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS. On average, equities research analysts expect that Globus Medical, Inc. will post $1.27 earnings per share for the current fiscal year.
Several research analysts have recently commented on the stock. BidaskClub raised shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd. Zacks Investment Research lowered shares of Globus Medical from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Morgan Stanley reissued an “equal weight” rating on shares of Globus Medical in a research note on Tuesday, July 11th. Barclays PLC reissued an “underweight” rating and set a $28.00 target price (down from $30.00) on shares of Globus Medical in a research note on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. set a $35.00 target price on shares of Globus Medical and gave the company a “hold” rating in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $31.25.
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In related news, insider A Brett Murphy sold 15,000 shares of Globus Medical stock in a transaction that occurred 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 transaction, the insider now owns 101,217 shares of the company’s stock, valued at approximately $3,035,497.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 28.21% of the stock is currently owned by company insiders.
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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