Kalmar Investments Inc. DE decreased its position in Globus Medical Inc. (NYSE:GMED) by 22.6% during the second quarter, Holdings Channel reports. The firm owned 1,116,447 shares of the medical device company’s stock after selling 325,268 shares during the period. Kalmar Investments Inc. DE’s holdings in Globus Medical were worth $26,605,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in Globus Medical by 85.1% in the second quarter. BNP Paribas Arbitrage SA now owns 4,852 shares of the medical device company’s stock worth $116,000 after buying an additional 2,231 shares in the last quarter. BlackRock Inc. increased its stake in Globus Medical by 146.4% in the first quarter. BlackRock Inc. now owns 4,998 shares of the medical device company’s stock valued at $119,000 after buying an additional 2,970 shares in the last quarter. Nordea Investment Management AB increased its stake in Globus Medical by 1,039.6% in the second quarter. Nordea Investment Management AB now owns 16,262 shares of the medical device company’s stock valued at $388,000 after buying an additional 14,835 shares in the last quarter. Fox Run Management L.L.C. increased its stake in Globus Medical by 0.5% in the second quarter. Fox Run Management L.L.C. now owns 20,100 shares of the medical device company’s stock valued at $479,000 after buying an additional 100 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in Globus Medical by 23.5% in the first quarter. BlackRock Group LTD now owns 48,337 shares of the medical device company’s stock valued at $1,148,000 after buying an additional 9,205 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors.
Globus Medical Inc. (NYSE:GMED) traded up 0.87% on Tuesday, hitting $23.16. The stock had a trading volume of 538,279 shares. The company’s 50-day moving average is $22.93 and its 200-day moving average is $23.68. The stock has a market cap of $2.22 billion, a P/E ratio of 18.98 and a beta of 0.61. Globus Medical Inc. has a one year low of $21.15 and a one year high of $28.60.
Globus Medical (NYSE:GMED) last issued its earnings results on Tuesday, July 26th. The medical device company reported $0.29 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.29. Globus Medical had a return on equity of 15.43% and a net margin of 21.19%. The firm had revenue of $137.49 million for the quarter, compared to analysts’ expectations of $141.78 million. The business’s revenue was up 2.9% compared to the same quarter last year. On average, analysts anticipate that Globus Medical Inc. will post $1.20 earnings per share for the current fiscal year.
GMED has been the topic of several research analyst reports. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $29.00 price objective on shares of Globus Medical in a report on Saturday, June 25th. Wells Fargo & Co. downgraded Globus Medical from an “outperform” rating to a “market perform” rating and set a $23.00 price objective on the stock. in a report on Wednesday, July 27th. Zacks Investment Research upgraded Globus Medical from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Leerink Swann downgraded Globus Medical from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $29.00 to $27.00 in a report on Wednesday, July 27th. Finally, Morgan Stanley cut their price objective on Globus Medical from $28.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, July 28th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Globus Medical currently has an average rating of “Hold” and a consensus price target of $26.40.
In related news, insider A Brett Murphy sold 107,692 shares of Globus Medical stock in a transaction on Friday, August 5th. The stock was sold at an average price of $23.37, for a total value of $2,516,762.04. Following the transaction, the insider now owns 190,917 shares in the company, valued at $4,461,730.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 27.93% of the stock is owned by corporate 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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