Globus Medical Inc (NYSE:GMED) is GW&K Investment Management LLC’s 10th Largest Position

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GW&K Investment Management LLC boosted its holdings in shares of Globus Medical Inc (NYSE:GMED) by 35.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,447,134 shares of the medical device company’s stock after acquiring an additional 378,211 shares during the quarter. Globus Medical accounts for 1.0% of GW&K Investment Management LLC’s portfolio, making the stock its 10th biggest holding. GW&K Investment Management LLC owned about 1.46% of Globus Medical worth $73,977,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC raised its position in Globus Medical by 83.1% during the 2nd quarter. Janus Henderson Group PLC now owns 6,179,600 shares of the medical device company’s stock valued at $261,397,000 after purchasing an additional 2,803,797 shares in the last quarter. Nuance Investments LLC raised its position in Globus Medical by 307.4% during the 2nd quarter. Nuance Investments LLC now owns 1,316,057 shares of the medical device company’s stock valued at $55,669,000 after purchasing an additional 993,056 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Globus Medical during the 2nd quarter valued at $29,363,000. Pembroke Management LTD bought a new stake in Globus Medical during the 2nd quarter valued at $13,495,000. Finally, Invesco Ltd. raised its position in Globus Medical by 73.1% during the 2nd quarter. Invesco Ltd. now owns 627,072 shares of the medical device company’s stock valued at $26,526,000 after purchasing an additional 264,790 shares in the last quarter. Institutional investors own 68.00% of the company’s stock.

In related news, SVP Kelly Huller sold 3,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $52.90, for a total transaction of $158,700.00. Following the transaction, the senior vice president now directly owns 6,384 shares of the company’s stock, valued at approximately $337,713.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David D. Davidar sold 50,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.33, for a total value of $2,466,500.00. Following the transaction, the director now directly owns 754,775 shares in the company, valued at $37,233,050.75. The disclosure for this sale can be found here. Insiders own 24.97% of the company’s stock.

GMED has been the subject of a number of research analyst reports. Piper Jaffray Companies lifted their target price on Globus Medical from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday. Cantor Fitzgerald lifted their target price on Globus Medical from $55.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday. Morgan Stanley lifted their target price on Globus Medical from $45.00 to $57.00 and gave the company an “equal weight” rating in a research report on Friday. Canaccord Genuity lifted their target price on Globus Medical from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Zacks Investment Research raised Globus Medical from a “sell” rating to a “hold” rating and set a $54.00 target price for the company in a research report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $58.22.

Shares of GMED traded up $0.98 during trading hours on Friday, hitting $55.72. The company had a trading volume of 585,132 shares, compared to its average volume of 578,325. The company has a market capitalization of $5.24 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.74 and a beta of 0.95. Globus Medical Inc has a one year low of $38.01 and a one year high of $56.34. The company’s fifty day moving average price is $51.06 and its two-hundred day moving average price is $46.42.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Wednesday, November 6th. The medical device company reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The firm had revenue of $196.22 million during the quarter, compared to analyst estimates of $185.86 million. Globus Medical had a return on equity of 13.29% and a net margin of 19.30%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 EPS. Sell-side analysts predict that Globus Medical Inc will post 1.71 earnings per share for the current year.

Globus Medical Company Profile

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

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