Macquarie Group Ltd. acquired a new stake in Globus Medical Inc (NYSE:GMED) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 6,300 shares of the medical device company’s stock, valued at approximately $187,000.

Other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of 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 valued at $100,000 after acquiring an additional 35 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Globus Medical by 18.9% during the second quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock valued at $105,000 after acquiring an additional 503 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Globus Medical by 2.0% during the second 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. Turner Investments LLC bought a new position in shares of Globus Medical during the second quarter valued at approximately $166,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Globus Medical by 17.6% during the second quarter. Victory Capital Management Inc. now owns 5,398 shares of the medical device company’s stock valued at $179,000 after acquiring an additional 808 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

In other news, insider A Brett Murphy sold 51,449 shares of the stock in a transaction on Thursday, November 9th. The stock was 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 $1,741,880. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Steven Payne sold 3,076 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $39.30, for a total value of $120,886.80. Following the completion of the sale, the chief accounting officer now directly owns 23,847 shares in the company, valued at $937,187.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,908 shares of company stock worth $4,747,975. 28.21% of the stock is owned by insiders.

A number of equities analysts recently commented on GMED shares. BidaskClub downgraded Globus Medical from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Barclays decreased their target price on Globus Medical from $28.00 to $27.00 and set an “underweight” rating for the company in a report on Thursday, October 19th. Zacks Investment Research downgraded Globus Medical from a “hold” rating to a “sell” rating in a report on Monday, September 4th. ValuEngine downgraded Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Piper Jaffray Companies restated a “buy” rating on shares of Globus Medical in a report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $36.83.

Shares of Globus Medical Inc (NYSE:GMED) opened at $40.10 on Thursday. The firm has a market capitalization of $3,775.05, a price-to-earnings ratio of 31.34, a P/E/G ratio of 2.97 and a beta of 0.58. Globus Medical Inc has a 12 month low of $23.99 and a 12 month high of $41.70.

Globus Medical (NYSE:GMED) last issued 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 company had revenue of $151.74 million for the quarter, compared to analysts’ expectations of $150.73 million. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 earnings per share. analysts predict that Globus Medical Inc will post 1.27 EPS for the current fiscal year.

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Globus Medical Company 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)

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