Argent Capital Management LLC Acquires 35,522 Shares of Globus Medical Inc (GMED)
Argent Capital Management LLC raised its holdings in shares of Globus Medical Inc (NYSE:GMED) by 247.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,867 shares of the medical device company’s stock after purchasing an additional 35,522 shares during the quarter. Argent Capital Management LLC owned 0.05% of Globus Medical worth $1,482,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. PNC Financial Services Group Inc. grew its stake in shares of Globus Medical by 1.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock worth $100,000 after acquiring an additional 35 shares in the last quarter. Sei Investments Co. grew its stake in shares of Globus Medical by 18.9% in the 2nd quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock worth $105,000 after acquiring an additional 503 shares in the last quarter. Advisor Group Inc. grew its stake in shares of Globus Medical by 2.0% in the 2nd quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock worth $114,000 after acquiring an additional 68 shares in the last quarter. Turner Investments LLC bought a new stake in shares of Globus Medical in the 2nd quarter worth $166,000. Finally, Victory Capital Management Inc. grew its stake in shares of Globus Medical by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,398 shares of the medical device company’s stock worth $179,000 after acquiring an additional 808 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.
In other news, Director David D. Davidar sold 55,383 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $40.66, for a total value of $2,251,872.78. Following the sale, the director now directly owns 752,236 shares of the company’s stock, valued at $30,585,915.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider A Brett Murphy sold 51,449 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $35.00, for a total transaction of $1,800,715.00. Following the completion of the sale, the insider now directly owns 49,768 shares in the company, valued at $1,741,880. The disclosure for this sale can be found here. 28.21% of the stock is owned by corporate insiders.
GMED has been the subject of several research reports. BidaskClub upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating in a research report on Friday, November 10th. ValuEngine lowered shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BTIG Research restated a “buy” rating and set a $37.00 price target on shares of Globus Medical in a research report on Thursday, November 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. Globus Medical has an average rating of “Hold” and a consensus price target of $36.83.
Globus Medical Inc (GMED) traded down $0.10 during midday trading on Wednesday, reaching $38.43. 427,000 shares of the company’s stock traded hands, compared to its average volume of 687,861. The stock has a market capitalization of $3,713.37, a P/E ratio of 30.82, a PEG ratio of 2.92 and a beta of 0.58. Globus Medical Inc has a 1-year low of $23.44 and a 1-year high of $41.70.
Globus Medical (NYSE:GMED) last released its quarterly earnings data on Wednesday, November 8th. The medical device company reported $0.30 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The business had revenue of $151.74 million for the quarter, compared to the consensus estimate of $150.73 million. Globus Medical had a net margin of 17.54% and a return on equity of 13.67%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. analysts anticipate that Globus Medical Inc will post 1.27 earnings per share for the current fiscal year.
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Globus Medical Profile
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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