GW&K Investment Management LLC trimmed its stake in shares of Globus Medical Inc (NYSE:GMED) by 10.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,290,034 shares of the medical device company’s stock after selling 148,394 shares during the quarter. Globus Medical accounts for about 0.9% of GW&K Investment Management LLC’s holdings, making the stock its 22nd largest position. GW&K Investment Management LLC’s holdings in Globus Medical were worth $53,020,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Globus Medical by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,538 shares of the medical device company’s stock valued at $349,000 after purchasing an additional 31 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Globus Medical by 1.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock valued at $100,000 after purchasing an additional 35 shares during the period. Advisor Group Inc. raised its stake in shares of Globus Medical by 2.0% during the 2nd quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock valued at $114,000 after purchasing an additional 68 shares during the period. 1st Global Advisors Inc. raised its stake in shares of Globus Medical by 1.2% during the 2nd quarter. 1st Global Advisors Inc. now owns 11,308 shares of the medical device company’s stock valued at $375,000 after purchasing an additional 130 shares during the period. Finally, Citigroup Inc. raised its stake in shares of Globus Medical by 2.8% during the 2nd quarter. Citigroup Inc. now owns 5,950 shares of the medical device company’s stock valued at $197,000 after purchasing an additional 161 shares during the period. Institutional investors own 70.24% of the company’s stock.

Shares of Globus Medical Inc (NYSE:GMED) traded up $0.44 during midday trading on Friday, reaching $43.50. The company’s stock had a trading volume of 518,546 shares, compared to its average volume of 830,546. The company has a market cap of $4,180.00, a price-to-earnings ratio of 39.55, a P/E/G ratio of 2.68 and a beta of 0.56. Globus Medical Inc has a fifty-two week low of $25.67 and a fifty-two week high of $46.51.

Globus Medical (NYSE:GMED) last announced its earnings results on Wednesday, November 8th. The medical device company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $151.74 million for the quarter, compared to analyst estimates of $150.73 million. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 EPS. equities analysts anticipate that Globus Medical Inc will post 1.27 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on the company. Barclays restated a “sell” rating and issued a $36.00 target price on shares of Globus Medical in a research note on Wednesday, January 10th. Wells Fargo & Co restated an “outperform” rating and issued a $51.00 target price (up from $46.00) on shares of Globus Medical in a research note on Wednesday, January 10th. Zacks Investment Research upgraded Globus Medical from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Needham & Company LLC assumed coverage on Globus Medical in a research note on Tuesday, September 26th. They issued a “hold” rating on the stock. Finally, Canaccord Genuity restated a “buy” rating and issued a $38.00 target price on shares of Globus Medical in a research note on Friday, September 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. Globus Medical presently has an average rating of “Buy” and a consensus target price of $40.57.

In other news, 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 transaction, the insider now directly owns 49,768 shares in the company, valued at approximately $1,741,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Steven Payne sold 3,076 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $39.30, for a total value of $120,886.80. Following the transaction, the chief accounting officer now owns 23,847 shares in the company, valued at $937,187.10. The disclosure for this sale can be found here. Insiders have sold a total of 124,908 shares of company stock worth $4,747,975 over the last quarter. Corporate insiders own 28.21% of the company’s stock.

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

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