Arizona State Retirement System boosted its position in Globus Medical, Inc. (NYSE:GMED) by 1.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 30,400 shares of the medical device company’s stock after buying an additional 500 shares during the period. Arizona State Retirement System’s holdings in Globus Medical were worth $1,008,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of GMED. Schwab Charles Investment Management Inc. boosted its stake in shares of Globus Medical by 10.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 323,853 shares of the medical device company’s stock worth $10,736,000 after buying an additional 31,452 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Globus Medical by 18.9% in the second quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock worth $105,000 after buying an additional 503 shares during the last quarter. Texas Permanent School Fund boosted its stake in shares of Globus Medical by 1.2% in the second quarter. Texas Permanent School Fund now owns 52,716 shares of the medical device company’s stock worth $1,748,000 after buying an additional 639 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Globus Medical by 8.9% in the second quarter. Bessemer Group Inc. now owns 28,185 shares of the medical device company’s stock worth $934,000 after buying an additional 2,300 shares during the last quarter. Finally, Spark Investment Management LLC boosted its stake in shares of Globus Medical by 191.0% in the second quarter. Spark Investment Management LLC now owns 113,200 shares of the medical device company’s stock worth $3,752,000 after buying an additional 74,300 shares during the last quarter. 65.80% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical, Inc. (GMED) opened at 29.51 on Thursday. The stock’s 50 day moving average price is $30.86 and its 200-day moving average price is $30.39. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 26.59 and a beta of 0.60. Globus Medical, Inc. has a 12 month low of $19.25 and a 12 month high of $34.03.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share (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 analysts’ expectations of $150.94 million. During the same period last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts predict that Globus Medical, Inc. will post $1.27 EPS for the current year.

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A number of equities research analysts have recently commented on the stock. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Globus Medical in a research note on Wednesday. Zacks Investment Research raised shares of Globus Medical from a “sell” rating to a “hold” rating in a research note on Tuesday. BidaskClub cut shares of Globus Medical from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Canaccord Genuity reaffirmed a “buy” rating and set a $37.00 price objective on shares of Globus Medical in a research note on Friday, August 18th. Finally, Barclays PLC reaffirmed an “underweight” rating and set a $28.00 price objective (down previously from $30.00) on shares of Globus Medical in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $30.43.

In related news, President Anthony L. Williams sold 16,153 shares of Globus Medical stock in a transaction on Monday, June 5th. The stock was sold at an average price of $31.94, for a total value of $515,926.82. Following the transaction, the president now directly owns 16,153 shares in the company, valued at approximately $515,926.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.

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

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