BNP Paribas Arbitrage SA cut its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 13.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,170 shares of the medical device company’s stock after selling 5,178 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Globus Medical were worth $1,016,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Globus Medical by 0.3% during 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. PNC Financial Services Group Inc. raised its stake in Globus Medical by 1.2% during the second quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock worth $100,000 after purchasing an additional 35 shares during the period. Alps Advisors Inc. raised its stake in Globus Medical by 0.3% during the second quarter. Alps Advisors Inc. now owns 17,464 shares of the medical device company’s stock worth $579,000 after purchasing an additional 45 shares during the period. Advisor Group Inc. raised its stake in Globus Medical by 2.0% during the second quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock worth $114,000 after purchasing an additional 68 shares during the period. Finally, 1st Global Advisors Inc. raised its stake in Globus Medical by 1.2% during the second quarter. 1st Global Advisors Inc. now owns 11,308 shares of the medical device company’s stock worth $375,000 after purchasing an additional 130 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Globus Medical, Inc. (NYSE:GMED) traded down $0.39 during trading on Friday, hitting $37.62. 656,219 shares of the stock were exchanged, compared to its average volume of 873,594. The stock has a market cap of $3,663.25, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 2.96 and a beta of 0.57. Globus Medical, Inc. has a twelve month low of $21.64 and a twelve month high of $38.85.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Wednesday, November 8th. The medical device company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $151.74 million for the quarter, compared to the consensus estimate of $150.73 million. Globus Medical had a net margin of 17.54% and a return on equity of 13.67%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. analysts anticipate that Globus Medical, Inc. will post 1.27 earnings per share for the current year.

GMED has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Globus Medical from a “hold” rating to a “sell” rating in a research note on Monday, September 4th. BidaskClub raised shares of Globus Medical from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 7th. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating in a research note on Friday, November 10th. Barclays lifted their target price on shares of Globus Medical from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Thursday, November 9th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Globus Medical in a research note on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. Globus Medical presently has an average rating of “Hold” and an average target price of $35.00.

In other news, insider A Brett Murphy sold 51,449 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $35.00, for a total value of $1,800,715.00. Following the sale, 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 is available through this hyperlink. 28.21% of the stock is currently owned by insiders.

COPYRIGHT VIOLATION NOTICE: “BNP Paribas Arbitrage SA Sells 5,178 Shares of Globus Medical, Inc. (GMED)” was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece of content on another domain, it was stolen and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/12/02/bnp-paribas-arbitrage-sa-sells-5178-shares-of-globus-medical-inc-gmed.html.

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.

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

Receive News & Stock Ratings for Globus Medical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical Inc. and related stocks with our FREE daily email newsletter.