Keybank National Association OH Sells 796 Shares of Globus Medical, Inc. (GMED)
Keybank National Association OH cut its holdings in Globus Medical, Inc. (NYSE:GMED) by 11.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,267 shares of the medical device company’s stock after selling 796 shares during the quarter. Keybank National Association OH’s holdings in Globus Medical were worth $208,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Sei Investments Co. boosted its holdings 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 valued at $105,000 after acquiring an additional 503 shares in the last quarter. Elkfork Partners LLC purchased a new stake in shares of Globus Medical in the first quarter valued at about $114,000. Victory Capital Management Inc. boosted its holdings in shares of Globus Medical by 22.1% in 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 in the last quarter. Meadow Creek Investment Management LLC purchased a new stake in shares of Globus Medical in the first quarter valued at about $138,000. Finally, Turner Investments LLC purchased a new stake in shares of Globus Medical in the second quarter valued at about $166,000. 65.80% of the stock is currently owned by institutional investors and hedge funds.
In other Globus Medical news, insider A Brett Murphy sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $29.99, for a total value of $449,850.00. Following the completion of the transaction, the insider now owns 101,217 shares of the company’s stock, valued at approximately $3,035,497.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 28.21% of the company’s stock.
GMED has been the topic of several analyst reports. Gabelli reaffirmed a “buy” rating on shares of Globus Medical in a report on Friday, August 4th. BidaskClub downgraded shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Canaccord Genuity reaffirmed a “buy” rating and issued a $37.00 target price on shares of Globus Medical in a report on Friday, August 18th. BTIG Research initiated coverage on shares of Globus Medical in a report on Thursday, September 7th. They issued a “buy” rating and a $37.00 target price on the stock. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Globus Medical in a report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $31.25.
Shares of Globus Medical, Inc. (GMED) opened at 30.15 on Friday. Globus Medical, Inc. has a 12-month low of $19.25 and a 12-month high of $34.03. The company’s 50-day moving average is $29.87 and its 200-day moving average is $30.65. The stock has a market cap of $2.90 billion, a P/E ratio of 27.16 and a beta of 0.60.
Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. The firm had revenue of $152.39 million during the quarter, compared to analysts’ expectations of $150.94 million. Globus Medical had a net margin of 18.12% and a return on equity of 13.99%. During the same quarter last year, the company posted $0.29 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts expect that Globus Medical, Inc. will post $1.27 earnings per share for the current fiscal year.
Globus Medical 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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