Kalmar Investments Inc. DE lowered its stake in Globus Medical Inc. (NYSE:GMED) by 22.6% during the second quarter, according to its most recent 13F filing with the SEC. 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 owned approximately 1.17% of Globus Medical worth $26,605,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in Globus Medical by 4.9% in the first quarter. Wellington Management Group LLP now owns 7,562,120 shares of the medical device company’s stock valued at $179,601,000 after buying an additional 352,562 shares during the last quarter. GW&K Investment Management LLC raised its stake in Globus Medical by 9.7% in the second quarter. GW&K Investment Management LLC now owns 1,741,751 shares of the medical device company’s stock valued at $41,506,000 after buying an additional 154,696 shares during the last quarter. State Street Corp raised its stake in Globus Medical by 3.5% in the first quarter. State Street Corp now owns 1,173,144 shares of the medical device company’s stock valued at $27,864,000 after buying an additional 39,290 shares during the last quarter. Henderson Group PLC raised its stake in Globus Medical by 57.6% in the second quarter. Henderson Group PLC now owns 783,235 shares of the medical device company’s stock valued at $18,664,000 after buying an additional 286,260 shares during the last quarter. Finally, Copper Rock Capital Partners LLC raised its stake in Globus Medical by 1.6% in the second quarter. Copper Rock Capital Partners LLC now owns 776,393 shares of the medical device company’s stock valued at $18,501,000 after buying an additional 12,095 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Globus Medical Inc. (NYSE:GMED) traded up 0.87% during midday trading on Tuesday, reaching $23.16. The company had a trading volume of 538,279 shares. The company has a market capitalization of $2.22 billion, a P/E ratio of 18.98 and a beta of 0.61. The company’s 50 day moving average price is $22.93 and its 200-day moving average price is $23.68. Globus Medical Inc. has a 52 week low of $21.15 and a 52 week high of $28.60.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Tuesday, July 26th. The medical device company reported $0.29 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.29. The company had revenue of $137.49 million for the quarter, compared to analyst estimates of $141.78 million. Globus Medical had a return on equity of 15.43% and a net margin of 21.19%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research analysts predict that Globus Medical Inc. will post $1.20 earnings per share for the current fiscal year.

A number of research firms have weighed in on GMED. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $29.00 target price on shares of Globus Medical in a research note on Saturday, June 25th. Wells Fargo & Co. lowered Globus Medical from an “outperform” rating to a “market perform” rating and set a $23.00 target price on the stock. in a research note on Wednesday, July 27th. Zacks Investment Research upgraded Globus Medical from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Leerink Swann lowered Globus Medical from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $29.00 to $27.00 in a research note on Wednesday, July 27th. Finally, Morgan Stanley reduced their target price on Globus Medical from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 28th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Globus Medical presently has an average rating of “Hold” and an average price target of $26.40.

In other Globus Medical news, insider A Brett Murphy sold 107,692 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $23.37, for a total transaction of $2,516,762.04. Following the transaction, the insider now owns 190,917 shares of the company’s stock, valued at $4,461,730.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 27.93% 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.

5 Day Chart for NYSE:GMED

Receive News & Stock Ratings for Globus Medical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical Inc. and related stocks with our FREE daily email newsletter.