Teachers Advisors LLC Acquires 1,963 Shares of Globus Medical, Inc. (NYSE:GMED)
Teachers Advisors LLC raised its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 1.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,398 shares of the medical device company’s stock after buying an additional 1,963 shares during the period. Teachers Advisors LLC’s holdings in Globus Medical were worth $3,537,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. Elkfork Partners LLC acquired a new stake in shares of Globus Medical during the first quarter valued at about $114,000. Victory Capital Management Inc. raised its stake in shares of Globus Medical by 22.1% in the first quarter. Victory Capital Management Inc. now owns 4,590 shares of the medical device company’s stock valued at $136,000 after buying an additional 830 shares during the period. Meadow Creek Investment Management LLC acquired a new stake in shares of Globus Medical during the first quarter valued at about $138,000. OppenheimerFunds Inc. acquired a new stake in shares of Globus Medical during the first quarter valued at about $200,000. Finally, Hartford Investment Management Co. acquired a new stake in shares of Globus Medical during the first quarter valued at about $207,000. Institutional investors own 69.45% of the company’s stock.
Globus Medical, Inc. (NYSE:GMED) traded down 0.14% during trading on Friday, hitting $28.74. 117,947 shares of the stock traded hands. Globus Medical, Inc. has a 52-week low of $19.25 and a 52-week high of $34.03. The stock has a 50 day moving average price of $31.91 and a 200-day moving average price of $30.11. The stock has a market cap of $2.77 billion, a P/E ratio of 25.89 and a beta of 0.60.
Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Wednesday, August 2nd. The medical device company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $152.39 million for the quarter, compared to analysts’ expectations of $150.94 million. Globus Medical had a net margin of 18.12% and a return on equity of 13.99%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned $0.29 EPS. On average, analysts anticipate that Globus Medical, Inc. will post $1.27 EPS for the current fiscal year.
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A number of equities analysts have weighed in on the stock. Canaccord Genuity set a $37.00 price target on shares of Globus Medical and gave the stock a “buy” rating in a research report on Thursday, May 18th. Zacks Investment Research upgraded shares of Globus Medical from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Friday, May 5th. BidaskClub lowered shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Gabelli reiterated a “buy” rating on shares of Globus Medical in a research report on Friday, August 4th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Globus Medical in a research report on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $30.43.
In related news, President Anthony L. Williams sold 16,153 shares of Globus Medical stock in a transaction 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 sale, the president now owns 16,153 shares of the company’s stock, valued at approximately $515,926.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 28.21% of the stock is owned by company insiders.
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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