Globus Medical Inc (NYSE:GMED) Stock Holdings Lessened by Profund Advisors LLC

Profund Advisors LLC trimmed its stake in Globus Medical Inc (NYSE:GMED) by 3.8% in the second quarter, Holdings Channel.com reports. The firm owned 9,872 shares of the medical device company’s stock after selling 389 shares during the quarter. Profund Advisors LLC’s holdings in Globus Medical were worth $418,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gabelli Funds LLC lifted its position in shares of Globus Medical by 0.5% in the second quarter. Gabelli Funds LLC now owns 213,000 shares of the medical device company’s stock worth $9,010,000 after purchasing an additional 1,000 shares in the last quarter. Northern Trust Corp lifted its position in shares of Globus Medical by 0.5% in the second quarter. Northern Trust Corp now owns 1,221,143 shares of the medical device company’s stock worth $51,655,000 after purchasing an additional 6,180 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Globus Medical by 20.2% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,489 shares of the medical device company’s stock worth $317,000 after purchasing an additional 1,256 shares in the last quarter. Isthmus Partners LLC purchased a new stake in shares of Globus Medical in the second quarter worth approximately $1,211,000. Finally, WINTON GROUP Ltd lifted its position in shares of Globus Medical by 122.8% in the second quarter. WINTON GROUP Ltd now owns 11,756 shares of the medical device company’s stock worth $497,000 after purchasing an additional 6,480 shares in the last quarter. 67.84% of the stock is owned by institutional investors and hedge funds.

In other Globus Medical news, SVP Kelly Huller sold 3,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $49.90, for a total transaction of $149,700.00. Following the transaction, the senior vice president now owns 9,384 shares in the company, valued at $468,261.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David D. Davidar sold 50,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.33, for a total value of $2,466,500.00. Following the transaction, the director now owns 754,775 shares in the company, valued at approximately $37,233,050.75. The disclosure for this sale can be found here. 24.97% of the stock is currently owned by company insiders.



GMED traded up $0.75 during midday trading on Friday, hitting $52.10. 4,979 shares of the company’s stock traded hands, compared to its average volume of 482,220. The company has a market cap of $5.09 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 2.50 and a beta of 0.94. The stock’s fifty day simple moving average is $50.04 and its 200-day simple moving average is $45.45. Globus Medical Inc has a one year low of $38.01 and a one year high of $57.83.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Thursday, August 1st. The medical device company reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. The firm had revenue of $150.55 million for the quarter, compared to analyst estimates of $184.93 million. Globus Medical had a net margin of 19.30% and a return on equity of 13.29%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. On average, equities analysts forecast that Globus Medical Inc will post 1.71 earnings per share for the current fiscal year.

GMED has been the subject of a number of research analyst reports. Wells Fargo & Co lowered shares of Globus Medical from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $50.00 to $41.00 in a research report on Friday, May 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $56.00 price objective (up previously from $52.00) on shares of Globus Medical in a research report on Friday, August 2nd. Morgan Stanley set a $45.00 price objective on shares of Globus Medical and gave the company a “hold” rating in a research report on Wednesday, June 5th. Zacks Investment Research raised shares of Globus Medical from a “sell” rating to a “hold” rating and set a $54.00 price objective on the stock in a research report on Tuesday, August 6th. Finally, ValuEngine raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Globus Medical presently has a consensus rating of “Buy” and a consensus target price of $55.20.

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.

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

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