GSA Capital Partners LLP acquired a new position in shares of Globus Medical, Inc. (NYSE:GMED) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,756 shares of the medical device company’s stock, valued at approximately $285,000.

Other hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its holdings in Globus Medical by 115.0% in the third quarter. Envestnet Asset Management Inc. now owns 95,999 shares of the medical device company’s stock worth $4,754,000 after purchasing an additional 51,356 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Globus Medical by 19.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,311 shares of the medical device company’s stock worth $397,000 after purchasing an additional 1,377 shares in the last quarter. Boston Trust Walden Corp grew its stake in Globus Medical by 4.6% during the 3rd quarter. Boston Trust Walden Corp now owns 505,161 shares of the medical device company’s stock worth $25,016,000 after buying an additional 22,152 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in Globus Medical by 7.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 22,564 shares of the medical device company’s stock valued at $1,077,000 after buying an additional 1,540 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in Globus Medical by 44.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 89,408 shares of the medical device company’s stock valued at $4,266,000 after buying an additional 27,408 shares during the last quarter. 66.58% of the stock is currently owned by institutional investors.

NYSE:GMED opened at $57.83 on Friday. Globus Medical, Inc. has a 52 week low of $33.41 and a 52 week high of $60.15. The stock’s 50-day moving average price is $53.85 and its 200-day moving average price is $51.71. The stock has a market capitalization of $5.71 billion, a PE ratio of 62.86, a price-to-earnings-growth ratio of 3.69 and a beta of 0.95.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Wednesday, October 28th. The medical device company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.31 by $0.18. Globus Medical had a return on equity of 9.85% and a net margin of 12.36%. As a group, equities research analysts expect that Globus Medical, Inc. will post 1.35 earnings per share for the current year.

Several brokerages recently commented on GMED. Stifel Nicolaus started coverage on shares of Globus Medical in a research report on Monday, October 19th. They issued a “hold” rating and a $56.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Globus Medical from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Northland Securities raised Globus Medical from a “market perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research report on Thursday, August 6th. SVB Leerink raised their target price on Globus Medical from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, Canaccord Genuity boosted their price target on Globus Medical from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $60.00.

In related news, Director James R. Tobin sold 5,600 shares of Globus Medical stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $56.85, for a total value of $318,360.00. Following the sale, the director now directly owns 5,600 shares in the company, valued at approximately $318,360. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Andrew Douglas acquired 615 shares of the business’s stock in a transaction on Monday, August 24th. The shares were purchased at an average price of $53.88 per share, with a total value of $33,136.20. Following the completion of the purchase, the director now owns 2,005 shares in the company, valued at approximately $108,029.40. The disclosure for this purchase can be found here. 25.63% of the stock is currently owned by company insiders.

About Globus Medical

Globus Medical, Inc, a medical device company, focuses on the development and commercialization of implants that heal patients with musculoskeletal disorders. Its spine product portfolio includes a range of implant and surgical approach options that can be used to treat degenerative, deformity, tumor, and trauma conditions affecting the spine from the occiput to the sacrum.

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

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