Schwab Charles Investment Management Inc. raised its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 10.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 323,853 shares of the medical device company’s stock after buying an additional 31,452 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.34% of Globus Medical worth $10,736,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Sei Investments Co. grew its stake in shares of Globus Medical by 18.9% in the 2nd quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock worth $105,000 after purchasing an additional 503 shares during the last quarter. Texas Permanent School Fund grew its stake in shares of Globus Medical by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 52,716 shares of the medical device company’s stock worth $1,748,000 after purchasing an additional 639 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Globus Medical by 8.9% in the 2nd quarter. Bessemer Group Inc. now owns 28,185 shares of the medical device company’s stock worth $934,000 after purchasing an additional 2,300 shares during the last quarter. Spark Investment Management LLC grew its stake in shares of Globus Medical by 191.0% in the 2nd quarter. Spark Investment Management LLC now owns 113,200 shares of the medical device company’s stock worth $3,752,000 after purchasing an additional 74,300 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in shares of Globus Medical by 5.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 44,193 shares of the medical device company’s stock worth $1,463,000 after purchasing an additional 2,155 shares during the last quarter. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider A Brett Murphy sold 15,000 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $29.99, for a total value of $449,850.00. Following the completion of the sale, the insider now directly owns 101,217 shares of the company’s stock, valued at approximately $3,035,497.83. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 28.21% of the company’s stock.

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Globus Medical, Inc. (NYSE GMED) opened at 29.72 on Friday. The firm has a market capitalization of $2.86 billion, a PE ratio of 26.77 and a beta of 0.60. Globus Medical, Inc. has a one year low of $19.25 and a one year high of $34.03. The firm has a 50 day moving average of $29.82 and a 200 day moving average of $30.72.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Wednesday, August 2nd. The medical device company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The company had revenue of $152.39 million during the quarter, compared to analysts’ expectations 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 was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 EPS. Equities analysts forecast that Globus Medical, Inc. will post $1.27 EPS for the current year.

GMED has been the topic of several recent research reports. Gabelli reaffirmed a “buy” rating on shares of Globus Medical in a research note on Friday, August 4th. BidaskClub cut shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Canaccord Genuity reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Globus Medical in a research note on Friday, August 18th. BTIG Research initiated coverage on shares of Globus Medical in a research note on Thursday, September 7th. They issued a “buy” rating and a $37.00 price objective on the stock. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Globus Medical in a research note on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.38.

About Globus Medical

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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