Rockefeller Capital Management L.P. Has $1.20 Million Holdings in Globus Medical, Inc. (NYSE:GMED)

Rockefeller Capital Management L.P. boosted its holdings in Globus Medical, Inc. (NYSE:GMED) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,494 shares of the medical device company’s stock after buying an additional 183 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Globus Medical were worth $1,201,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp acquired a new stake in Globus Medical in the first quarter valued at about $25,000. Wagner Wealth Management LLC acquired a new stake in shares of Globus Medical during the first quarter valued at about $26,000. Selective Wealth Management Inc. acquired a new stake in shares of Globus Medical during the second quarter valued at about $35,000. Credit Agricole S A boosted its stake in shares of Globus Medical by 466.7% during the second quarter. Credit Agricole S A now owns 510 shares of the medical device company’s stock valued at $40,000 after purchasing an additional 420 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in shares of Globus Medical by 396.4% during the first quarter. Panagora Asset Management Inc. now owns 2,214 shares of the medical device company’s stock valued at $137,000 after purchasing an additional 1,768 shares in the last quarter. 66.96% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Daniel T. Scavilla sold 100,000 shares of the company’s stock in a transaction on Friday, July 2nd. The stock was sold at an average price of $78.41, for a total transaction of $7,841,000.00. Following the completion of the sale, the executive vice president now owns 50,000 shares in the company, valued at $3,920,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith W. Pfeil sold 27,479 shares of the company’s stock in a transaction on Friday, June 25th. The stock was sold at an average price of $75.04, for a total value of $2,062,024.16. Following the sale, the chief financial officer now owns 13,312 shares of the company’s stock, valued at approximately $998,932.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,812 shares of company stock valued at $10,165,539. Corporate insiders own 16.50% of the company’s stock.

GMED has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target on Globus Medical from $78.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, August 5th. SVB Leerink lifted their price objective on Globus Medical from $88.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday, August 5th. Credit Suisse Group lifted their price objective on Globus Medical from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, August 5th. Morgan Stanley lifted their price objective on Globus Medical from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 5th. Finally, Canaccord Genuity lifted their price objective on Globus Medical from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, August 5th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $81.54.

NYSE GMED opened at $79.20 on Tuesday. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 44.00, a P/E/G ratio of 4.27 and a beta of 1.08. Globus Medical, Inc. has a 52 week low of $48.00 and a 52 week high of $84.23. The business has a 50 day moving average price of $80.53 and a 200-day moving average price of $73.55.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Wednesday, August 4th. The medical device company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.12. The firm had revenue of $251.02 million during the quarter, compared to the consensus estimate of $225.50 million. Globus Medical had a return on equity of 14.10% and a net margin of 19.83%. The company’s quarterly revenue was up 68.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 earnings per share. On average, equities analysts expect that Globus Medical, Inc. will post 2 EPS for the current year.

Globus Medical Company Profile

Globus Medical, Inc operates as a medical device company that develops and commercializes healthcare solutions. The firm engages in developing products that promote healing in patients with musculoskeletal disorders. It classifies products into Innovative Fusion and Disruptive Technology. It operates through the United States and International geographical segments.

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

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