ProShare Advisors LLC cut its position in Globus Medical, Inc. (NYSE:GMED) by 19.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,224 shares of the medical device company’s stock after selling 2,797 shares during the period. ProShare Advisors LLC’s holdings in Globus Medical were worth $372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Globus Medical by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,538 shares of the medical device company’s stock worth $349,000 after acquiring an additional 31 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of Globus Medical by 0.3% in the second quarter. Alps Advisors Inc. now owns 17,464 shares of the medical device company’s stock worth $579,000 after acquiring an additional 45 shares during the last quarter. Advantus Capital Management Inc boosted its stake in shares of Globus Medical by 3.0% in the first quarter. Advantus Capital Management Inc now owns 9,209 shares of the medical device company’s stock worth $273,000 after acquiring an additional 270 shares during the last quarter. Renaissance Group LLC boosted its stake in shares of Globus Medical by 2.4% in the second quarter. Renaissance Group LLC now owns 11,591 shares of the medical device company’s stock worth $384,000 after acquiring an additional 277 shares during the last quarter. Finally, Mason Street Advisors LLC boosted its stake in shares of Globus Medical by 1.2% in the first quarter. Mason Street Advisors LLC now owns 33,980 shares of the medical device company’s stock worth $1,006,000 after acquiring an additional 410 shares during the last quarter. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

In other Globus Medical news, insider A Brett Murphy sold 15,000 shares of the firm’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 transaction, the insider now directly owns 101,217 shares of the company’s stock, valued at $3,035,497.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 28.21% of the company’s stock.

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A number of brokerages have recently issued reports on GMED. BidaskClub raised Globus Medical from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. Zacks Investment Research lowered Globus Medical from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Morgan Stanley reissued an “equal weight” rating on shares of Globus Medical in a research note on Tuesday, July 11th. Oppenheimer Holdings, Inc. set a $35.00 price objective on Globus Medical and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Finally, 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 research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $30.71.

Shares of Globus Medical, Inc. (NYSE:GMED) opened at 31.22 on Monday. The company has a 50 day moving average price of $29.93 and a 200 day moving average price of $30.88. Globus Medical, Inc. has a 12-month low of $19.25 and a 12-month high of $34.03. The stock has a market cap of $3.01 billion, a P/E ratio of 28.13 and a beta of 0.56.

Globus Medical (NYSE:GMED) last issued its earnings results on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $152.39 million for the quarter, compared to analysts’ expectations of $150.94 million. During the same quarter last year, the firm earned $0.29 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Analysts anticipate that Globus Medical, Inc. will post $1.27 earnings per share for the current fiscal year.

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.

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

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