Sei Investments Co. Has $105,000 Position in Globus Medical, Inc. (GMED)
Sei Investments Co. lifted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 18.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,165 shares of the medical device company’s stock after acquiring an additional 503 shares during the period. Sei Investments Co.’s holdings in Globus Medical were worth $105,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of GMED. Elkfork Partners LLC acquired a new stake in shares of Globus Medical during the first quarter valued at $114,000. Victory Capital Management Inc. boosted its stake in shares of Globus Medical by 22.1% during the first quarter. Victory Capital Management Inc. now owns 4,590 shares of the medical device company’s stock valued at $136,000 after acquiring an additional 830 shares during the last quarter. Meadow Creek Investment Management LLC acquired a new stake in shares of Globus Medical during the first quarter valued at $138,000. OppenheimerFunds Inc. acquired a new stake in shares of Globus Medical during the first quarter valued at $200,000. Finally, LS Investment Advisors LLC boosted its stake in shares of Globus Medical by 19.3% during the second quarter. LS Investment Advisors LLC now owns 6,152 shares of the medical device company’s stock valued at $204,000 after acquiring an additional 995 shares during the last quarter. 65.80% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently commented on GMED shares. BidaskClub lowered Globus Medical from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Zacks Investment Research lowered Globus Medical from a “hold” rating to a “sell” rating in a research note on Monday, September 4th. 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. BTIG Research started coverage on Globus Medical in a research note on Thursday, September 7th. They set a “buy” rating and a $37.00 price objective on the stock. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Globus Medical in a research note on Wednesday, August 30th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $31.25.
In other news, insider A Brett Murphy sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $29.99, for a total transaction of $449,850.00. Following the sale, the insider now directly owns 101,217 shares of the company’s stock, valued at $3,035,497.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.21% of the stock is owned by insiders.
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Shares of Globus Medical, Inc. (NYSE:GMED) opened at 30.30 on Thursday. Globus Medical, Inc. has a 52 week low of $19.25 and a 52 week high of $34.03. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 27.30 and a beta of 0.60. The firm has a 50-day moving average price of $30.11 and a 200-day moving average price of $30.65.
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 analysts’ consensus estimates of $0.30 by $0.02. The company had revenue of $152.39 million for the quarter, compared to analyst estimates of $150.94 million. Globus Medical had a return on equity of 13.99% and a net margin of 18.12%. Globus Medical’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 earnings per share. On average, equities analysts expect that Globus Medical, Inc. will post $1.27 earnings per share for the current fiscal year.
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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