Squarepoint Ops LLC Grows Position in Globus Medical Inc (GMED)

Squarepoint Ops LLC increased its position in shares of Globus Medical Inc (NYSE:GMED) by 1,831.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 128,042 shares of the medical device company’s stock after purchasing an additional 121,412 shares during the period. Squarepoint Ops LLC owned approximately 0.13% of Globus Medical worth $5,542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in GMED. Wells Fargo & Company MN lifted its holdings in Globus Medical by 36.2% during the 3rd quarter. Wells Fargo & Company MN now owns 567,148 shares of the medical device company’s stock worth $32,191,000 after purchasing an additional 150,661 shares during the last quarter. Swiss National Bank lifted its holdings in Globus Medical by 1.3% during the 3rd quarter. Swiss National Bank now owns 127,800 shares of the medical device company’s stock worth $7,254,000 after purchasing an additional 1,700 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Globus Medical by 45.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,086 shares of the medical device company’s stock worth $287,000 after purchasing an additional 1,587 shares during the last quarter. Martingale Asset Management L P lifted its holdings in Globus Medical by 82.0% during the 3rd quarter. Martingale Asset Management L P now owns 69,718 shares of the medical device company’s stock worth $3,958,000 after purchasing an additional 31,407 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Globus Medical by 2.8% during the 3rd quarter. BlackRock Inc. now owns 9,456,276 shares of the medical device company’s stock worth $536,739,000 after purchasing an additional 254,550 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

In other news, President Anthony L. Williams sold 212,082 shares of Globus Medical stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $46.83, for a total value of $9,931,800.06. Following the transaction, the president now owns 89,583 shares in the company, valued at approximately $4,195,171.89. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James R. Tobin sold 8,900 shares of Globus Medical stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $47.10, for a total value of $419,190.00. Following the completion of the transaction, the director now owns 8,900 shares in the company, valued at approximately $419,190. The disclosure for this sale can be found here. In the last quarter, insiders sold 423,852 shares of company stock worth $19,916,004. Corporate insiders own 28.44% of the company’s stock.



Globus Medical stock opened at $47.46 on Monday. Globus Medical Inc has a one year low of $38.01 and a one year high of $57.83. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 2.42 and a beta of 0.86.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Thursday, February 21st. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. Globus Medical had a return on equity of 15.22% and a net margin of 21.95%. The company had revenue of $195.94 million for the quarter, compared to analyst estimates of $195.50 million. On average, equities analysts forecast that Globus Medical Inc will post 1.72 earnings per share for the current year.

A number of equities analysts have commented on the company. Oppenheimer restated a “hold” rating on shares of Globus Medical in a research note on Tuesday, March 19th. Cantor Fitzgerald set a $60.00 price objective on Globus Medical and gave the stock a “buy” rating in a research note on Friday, January 18th. ValuEngine lowered Globus Medical from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. UBS Group assumed coverage on Globus Medical in a research note on Wednesday, November 28th. They set a “neutral” rating and a $55.00 price objective on the stock. Finally, Zacks Investment Research lowered Globus Medical from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $56.36.

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Globus Medical Profile

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 a variety of musculoskeletal pathologies, anatomies, and surgical approaches.

Further Reading: What is cost of equity?

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Institutional Ownership by Quarter for Globus Medical (NYSE:GMED)

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