Great West Life Assurance Co. Can held its position in Globus Medical Inc. (NYSE:GMED) during the second quarter, Holdings Channel reports. The fund owned 6,809 shares of the medical device company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Globus Medical were worth $162,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its position in Globus Medical by 85.1% in the second quarter. BNP Paribas Arbitrage SA now owns 4,852 shares of the medical device company’s stock valued at $116,000 after buying an additional 2,231 shares during the period. BlackRock Inc. increased its position in Globus Medical by 146.4% in the first quarter. BlackRock Inc. now owns 4,998 shares of the medical device company’s stock valued at $119,000 after buying an additional 2,970 shares during the period. C M Bidwell & Associates Ltd. bought a new position in Globus Medical during the first quarter valued at $152,000. Legal & General Group Plc increased its position in Globus Medical by 11.3% in the first quarter. Legal & General Group Plc now owns 15,009 shares of the medical device company’s stock valued at $356,000 after buying an additional 1,519 shares during the period. Finally, Nordea Investment Management AB increased its position in Globus Medical by 1,039.6% in the second quarter. Nordea Investment Management AB now owns 16,262 shares of the medical device company’s stock valued at $388,000 after buying an additional 14,835 shares during the period. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Globus Medical Inc. (NYSE:GMED) traded down 0.72% during trading on Tuesday, hitting $22.21. 529,554 shares of the company were exchanged. Globus Medical Inc. has a 12 month low of $20.48 and a 12 month high of $28.60. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 18.20 and a beta of 0.60. The company has a 50-day moving average of $23.08 and a 200-day moving average of $23.88.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Tuesday, July 26th. The medical device company reported $0.29 EPS for the quarter, hitting analysts’ consensus estimates of $0.29. The firm had revenue of $137.49 million for the quarter, compared to the consensus estimate of $141.78 million. Globus Medical had a net margin of 21.19% and a return on equity of 15.43%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. Analysts forecast that Globus Medical Inc. will post $1.20 EPS for the current year.

A number of analysts have commented on GMED shares. Zacks Investment Research upgraded shares of Globus Medical from a “sell” rating to a “hold” rating in a report on Thursday, June 30th. Canaccord Genuity downgraded shares of Globus Medical from a “buy” rating to a “hold” rating and cut their price objective for the company from $30.00 to $28.00 in a report on Wednesday, July 27th. Barclays PLC cut their price objective on shares of Globus Medical from $26.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, July 27th. Morgan Stanley downgraded shares of Globus Medical from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 27th. Finally, Oppenheimer Holdings Inc. set a $29.00 price objective on shares of Globus Medical and gave the company a “buy” rating in a report on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Globus Medical currently has an average rating of “Hold” and a consensus price target of $26.40.

In other Globus Medical news, insider A Brett Murphy sold 107,692 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $23.37, for a total value of $2,516,762.04. Following the sale, the insider now owns 190,917 shares of the company’s stock, valued at $4,461,730.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.93% of the stock is currently owned by company insiders.

About Globus Medical

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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