Nuance Investments LLC decreased its position in Globus Medical, Inc. (NYSE:GMED) by 69.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,671 shares of the medical device company’s stock after selling 562,382 shares during the period. Nuance Investments LLC owned 0.35% of Globus Medical worth $8,376,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GMED. Virginia Retirement Systems ET AL raised its position in shares of Globus Medical by 110.1% in the first quarter. Virginia Retirement Systems ET AL now owns 81,300 shares of the medical device company’s stock worth $2,408,000 after buying an additional 42,600 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in shares of Globus Medical by 1.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 33,330 shares of the medical device company’s stock worth $987,000 after buying an additional 560 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Globus Medical by 17.5% in the first quarter. Bank of America Corp DE now owns 578,179 shares of the medical device company’s stock worth $17,125,000 after buying an additional 86,033 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Globus Medical by 12.8% in the first quarter. Geode Capital Management LLC now owns 750,463 shares of the medical device company’s stock worth $22,228,000 after buying an additional 84,912 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Globus Medical by 30.3% in the first quarter. UBS Asset Management Americas Inc. now owns 201,635 shares of the medical device company’s stock worth $5,972,000 after buying an additional 46,857 shares in the last quarter. Institutional investors own 65.80% of the company’s stock.

Globus Medical, Inc. (GMED) opened at 30.29 on Friday. The company’s 50-day moving average price is $30.55 and its 200 day moving average price is $30.47. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 27.29 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 announced its earnings results on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. Globus Medical had a net margin of 18.12% and a return on equity of 13.99%. The company had revenue of $152.39 million during the quarter, compared to analyst estimates of $150.94 million. During the same period in the previous year, the business earned $0.29 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Analysts forecast that Globus Medical, Inc. will post $1.27 EPS for the current fiscal year.

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Several equities research analysts recently weighed in on the company. Zacks Investment Research downgraded Globus Medical from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Globus Medical in a report on Wednesday. Canaccord Genuity reissued a “buy” rating and set a $37.00 price objective on shares of Globus Medical in a report on Friday, August 18th. Barclays PLC reissued an “underweight” rating and set a $28.00 price objective (down previously from $30.00) on shares of Globus Medical in a report on Wednesday, August 9th. Finally, BidaskClub downgraded Globus Medical from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Globus Medical has an average rating of “Hold” and a consensus price target of $30.43.

In other Globus Medical news, President Anthony L. Williams sold 16,153 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $31.94, for a total transaction of $515,926.82. Following the completion of the sale, the president now directly owns 16,153 shares in the company, valued at $515,926.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 28.21% of the stock is currently owned by insiders.

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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