Strs Ohio raised its stake in Globus Medical Inc (NYSE:GMED) by 7.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,700 shares of the medical device company’s stock after acquiring an additional 1,600 shares during the period. Strs Ohio’s holdings in Globus Medical were worth $960,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Globus Medical by 0.3% during the first quarter. BlackRock Inc. now owns 9,540,773 shares of the medical device company’s stock worth $471,410,000 after buying an additional 26,994 shares during the period. Janus Henderson Group PLC boosted its position in shares of Globus Medical by 18.5% during the first quarter. Janus Henderson Group PLC now owns 3,375,803 shares of the medical device company’s stock worth $166,798,000 after buying an additional 527,049 shares during the period. Geode Capital Management LLC boosted its position in shares of Globus Medical by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 807,842 shares of the medical device company’s stock worth $34,963,000 after buying an additional 39,789 shares during the period. Marathon Asset Management LLP boosted its position in shares of Globus Medical by 1.8% during the second quarter. Marathon Asset Management LLP now owns 767,432 shares of the medical device company’s stock worth $32,464,000 after buying an additional 13,926 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in shares of Globus Medical by 51.3% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 583,719 shares of the medical device company’s stock worth $28,842,000 after buying an additional 197,900 shares during the period. Institutional investors own 69.61% of the company’s stock.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Globus Medical from a “sell” rating to a “hold” rating and set a $54.00 price objective for the company in a research report on Tuesday, August 6th. Morgan Stanley set a $45.00 price objective on Globus Medical and gave the stock a “hold” rating in a research report on Wednesday, June 5th. Wells Fargo & Co downgraded Globus Medical from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $50.00 to $41.00 in a research report on Friday, May 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $56.00 price objective (up from $52.00) on shares of Globus Medical in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $55.20.
Globus Medical (NYSE:GMED) last released its earnings results on Thursday, August 1st. The medical device company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The firm had revenue of $150.55 million during the quarter, compared to the consensus estimate of $184.93 million. Globus Medical had a return on equity of 13.29% and a net margin of 19.30%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share. On average, analysts forecast that Globus Medical Inc will post 1.71 EPS for the current year.
About Globus Medical
Globus Medical, Inc, a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address a variety of musculoskeletal pathologies, anatomies, and surgical approaches.
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