Bank of Nova Scotia purchased a new stake in Globus Medical, Inc. (NYSE:GMED) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 68,859 shares of the medical device company’s stock, valued at approximately $2,283,000. Bank of Nova Scotia owned 0.10% of Globus Medical as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in Globus Medical by 1.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock valued at $100,000 after buying an additional 35 shares during the period. Sei Investments Co. raised its holdings in 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 buying an additional 503 shares during the period. Advisor Group Inc. raised its holdings in Globus Medical by 2.0% in the second quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock valued at $114,000 after buying an additional 68 shares during the period. Victory Capital Management Inc. raised its holdings in 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 buying an additional 830 shares during the period. Finally, Turner Investments LLC purchased a new position in Globus Medical in the second quarter valued at approximately $166,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

GMED has been the topic of several research reports. Zacks Investment Research lowered shares of Globus Medical from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BidaskClub lowered shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. set a $35.00 price target on shares of Globus Medical and gave the company a “hold” rating in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $30.57.

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Shares of Globus Medical, Inc. (GMED) opened at 30.65 on Friday. The stock’s 50 day moving average is $29.97 and its 200-day moving average is $30.88. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 27.61 and a beta of 0.56. Globus Medical, Inc. has a 1-year low of $19.25 and a 1-year high of $34.03.

Globus Medical (NYSE:GMED) last posted its earnings results on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $150.94 million. During the same period in the previous year, the company earned $0.29 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts anticipate that Globus Medical, Inc. will post $1.27 EPS for the current year.

In related news, insider A Brett Murphy sold 15,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $3,035,497.83. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 28.21% of the stock is currently owned by insiders.

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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