Bridge City Capital LLC increased its holdings in shares of Globus Medical Inc (NYSE:GMED) by 27.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 57,031 shares of the medical device company’s stock after acquiring an additional 12,380 shares during the period. Globus Medical accounts for about 1.3% of Bridge City Capital LLC’s holdings, making the stock its 27th biggest holding. Bridge City Capital LLC’s holdings in Globus Medical were worth $2,915,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Boston Trust Walden Corp lifted its position in shares of Globus Medical by 38.8% during the 3rd quarter. Boston Trust Walden Corp now owns 423,292 shares of the medical device company’s stock valued at $21,639,000 after buying an additional 118,336 shares in the last quarter. Brinker Capital Inc. purchased a new position in shares of Globus Medical during the 3rd quarter valued at approximately $211,000. NEXT Financial Group Inc purchased a new position in shares of Globus Medical during the 3rd quarter valued at approximately $149,000. Envestnet Asset Management Inc. lifted its position in shares of Globus Medical by 8.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 59,350 shares of the medical device company’s stock valued at $3,034,000 after buying an additional 4,724 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Globus Medical by 1,641.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,355 shares of the medical device company’s stock valued at $325,000 after buying an additional 5,990 shares in the last quarter. Hedge funds and other institutional investors own 67.86% of the company’s stock.
In other news, Director David D. Davidar sold 50,000 shares of Globus Medical stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.33, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kelly Huller sold 3,000 shares of Globus Medical stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $49.90, for a total value of $149,700.00. Following the transaction, the senior vice president now owns 9,384 shares in the company, valued at approximately $468,261.60. The disclosure for this sale can be found here. Company insiders own 24.97% of the company’s stock.
Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Thursday, August 1st. The medical device company reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. The company had revenue of $150.55 million for the quarter, compared to analyst estimates of $184.93 million. Globus Medical had a return on equity of 13.29% and a net margin of 19.30%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. As a group, equities research analysts predict that Globus Medical Inc will post 1.71 earnings per share for the current year.
A number of brokerages have recently issued reports on GMED. Wells Fargo & Co increased their target price on Globus Medical from $42.00 to $53.00 and gave the company a “market perform” rating in a research report on Tuesday, October 8th. Needham & Company LLC reiterated a “buy” rating and set a $56.00 target price (up previously from $52.00) on shares of Globus Medical in a research report on Friday, August 2nd. Zacks Investment Research upgraded Globus Medical from a “sell” rating to a “hold” rating and set a $54.00 target price on the stock in a research report on Tuesday, August 6th. Finally, ValuEngine upgraded 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 assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $56.40.
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 a variety of musculoskeletal pathologies, anatomies, and surgical approaches.
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