ING Groep NV acquired a new stake in shares of Globus Medical, Inc. (NYSE:GMED) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,784 shares of the medical device company’s stock, valued at approximately $291,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Globus Medical during the fourth quarter valued at $18,321,000. UBS Asset Management Americas Inc. raised its position in shares of Globus Medical by 24.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 154,778 shares of the medical device company’s stock valued at $3,840,000 after buying an additional 30,756 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Globus Medical by 4.7% in the fourth quarter. Teachers Advisors LLC now owns 117,435 shares of the medical device company’s stock valued at $2,914,000 after buying an additional 5,239 shares during the last quarter. Marathon Asset Management LLP raised its position in shares of Globus Medical by 3.5% in the first quarter. Marathon Asset Management LLP now owns 267,459 shares of the medical device company’s stock valued at $7,922,000 after buying an additional 8,969 shares during the last quarter. Finally, Parametrica Management Ltd bought a new position in shares of Globus Medical during the first quarter valued at $577,000. 69.45% of the stock is currently owned by institutional investors.

Globus Medical, Inc. (NYSE:GMED) traded down 1.949% during trading on Thursday, reaching $28.925. 346,460 shares of the company’s stock traded hands. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 26.059 and a beta of 0.60. The company’s 50 day moving average is $32.04 and its 200-day moving average is $30.12. Globus Medical, Inc. has a 52-week low of $19.25 and a 52-week high of $34.03.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Globus Medical had a return on equity of 13.99% and a net margin of 18.12%. The firm had revenue of $152.39 million for the quarter, compared to analysts’ expectations of $150.94 million. During the same period in the prior year, the business posted $0.29 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. On average, analysts anticipate that Globus Medical, Inc. will post $1.27 earnings per share for the current fiscal year.

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A number of equities analysts recently commented on GMED shares. Leerink Swann raised shares of Globus Medical from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 12th. Barclays PLC lowered shares of Globus Medical from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $24.00 to $28.00 in a research report on Monday, April 24th. Canaccord Genuity raised shares of Globus Medical from a “hold” rating to a “buy” rating and raised their price target for the stock from $30.00 to $37.00 in a research report on Thursday, May 4th. Oppenheimer Holdings, Inc. set a $32.00 price target on shares of Globus Medical and gave the stock a “hold” rating in a research report on Thursday, May 4th. Finally, Zacks Investment Research raised shares of Globus Medical from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Friday, May 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Globus Medical currently has a consensus rating of “Hold” and a consensus price target of $30.43.

In related news, President Anthony L. Williams sold 16,153 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $31.94, for a total value of $515,926.82. Following the transaction, the president now directly owns 16,153 shares in the company, valued at $515,926.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 28.21% of the company’s stock.

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

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