Rice Hall James & Associates LLC Increases Stake in Globus Medical, Inc. (GMED)

Rice Hall James & Associates LLC raised its stake in Globus Medical, Inc. (NYSE:GMED) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 828,414 shares of the medical device company’s stock after buying an additional 888 shares during the period. Globus Medical comprises about 1.2% of Rice Hall James & Associates LLC’s investment portfolio, making the stock its 12th largest position. Rice Hall James & Associates LLC’s holdings in Globus Medical were worth $27,462,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Globus Medical during the fourth quarter valued at about $18,321,000. UBS Asset Management Americas Inc. increased its stake in 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 in the last quarter. Teachers Advisors LLC increased its stake in 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 in the last quarter. Marathon Asset Management LLP increased its stake in 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 in the last quarter. Finally, Parametrica Management Ltd acquired a new stake in Globus Medical during the first quarter valued at about $577,000. Institutional investors own 69.45% of the company’s stock.

Globus Medical, Inc. (NYSE GMED) opened at 28.78 on Friday. The firm has a market capitalization of $2.77 billion, a PE ratio of 25.93 and a beta of 0.60. Globus Medical, Inc. has a 52-week low of $19.25 and a 52-week high of $34.03. The stock’s 50 day moving average is $31.91 and its 200-day moving average is $30.11.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Wednesday, August 2nd. The medical device company reported $0.32 EPS for the quarter, beating the 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 company had revenue of $152.39 million for the quarter, compared to the consensus estimate of $150.94 million. During the same quarter last year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts expect that Globus Medical, Inc. will post $1.27 earnings per share for the current year.

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Several equities research analysts have issued reports on GMED shares. Barclays PLC downgraded shares of Globus Medical from an “equal weight” rating to an “underweight” rating and boosted their price objective for the stock from $24.00 to $28.00 in a research note on Monday, April 24th. Canaccord Genuity upgraded shares of Globus Medical from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $30.00 to $37.00 in a research note on Thursday, May 4th. Oppenheimer Holdings, Inc. set a $32.00 price objective on shares of Globus Medical and gave the stock a “hold” rating in a research note on Thursday, May 4th. Zacks Investment Research upgraded shares of Globus Medical from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Friday, May 5th. Finally, BidaskClub upgraded shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $30.43.

In other Globus Medical news, President Anthony L. Williams sold 16,153 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $31.94, for a total transaction of $515,926.82. Following the transaction, the president now owns 16,153 shares in the company, valued at $515,926.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company 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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