Oak Ridge Investments LLC decreased its position in Globus Medical, Inc. (NYSE:GMED) by 22.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,313,354 shares of the medical device company’s stock after selling 379,841 shares during the period. Globus Medical comprises 1.6% of Oak Ridge Investments LLC’s portfolio, making the stock its 15th biggest position. Oak Ridge Investments LLC owned about 1.36% of Globus Medical worth $39,033,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Globus Medical by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,538 shares of the medical device company’s stock valued at $349,000 after acquiring an additional 31 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Globus Medical by 1.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock valued at $100,000 after acquiring an additional 35 shares in the last quarter. Alps Advisors Inc. lifted its stake in Globus Medical by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 17,464 shares of the medical device company’s stock valued at $579,000 after acquiring an additional 45 shares in the last quarter. Advisor Group Inc. lifted its stake in Globus Medical by 2.0% in the 2nd quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock valued at $114,000 after acquiring an additional 68 shares in the last quarter. Finally, 1st Global Advisors Inc. lifted its stake in Globus Medical by 1.2% in the 2nd quarter. 1st Global Advisors Inc. now owns 11,308 shares of the medical device company’s stock valued at $375,000 after acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 65.59% of the company’s stock.

In related news, insider A Brett Murphy sold 51,449 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $35.00, for a total transaction of $1,800,715.00. Following the transaction, the insider now directly owns 49,768 shares of the company’s stock, valued at approximately $1,741,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 28.21% of the stock is owned by insiders.

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Several equities research analysts have commented on GMED shares. Barclays PLC restated an “underweight” rating and issued a $28.00 target price (down previously from $30.00) on shares of Globus Medical in a research note on Thursday, August 3rd. BidaskClub upgraded Globus Medical from a “hold” rating to a “buy” rating in a research note on Tuesday. Bank of America Corporation upgraded Globus Medical from an “underperform” rating to a “neutral” rating in a research note on Friday, November 10th. Gabelli restated a “buy” rating on shares of Globus Medical in a research note on Friday, August 4th. Finally, Zacks Investment Research cut Globus Medical from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $34.00.

Globus Medical, Inc. (NYSE GMED) traded down $0.64 during trading hours on Thursday, hitting $37.16. The company’s stock had a trading volume of 1,226,900 shares, compared to its average volume of 682,114. The firm has a market cap of $3,590.00, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. Globus Medical, Inc. has a 52-week low of $20.81 and a 52-week high of $38.04.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Wednesday, November 8th. The medical device company reported $0.30 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The firm had revenue of $151.74 million for the quarter, compared to analyst estimates of $150.73 million. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 EPS. sell-side analysts predict 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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Institutional Ownership by Quarter for Globus Medical (NYSE:GMED)

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