Mutual of America Capital Management LLC raised its stake in shares of Globus Medical Inc (NYSE:GMED) by 5.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,938 shares of the medical device company’s stock after buying an additional 3,386 shares during the period. Mutual of America Capital Management LLC’s holdings in Globus Medical were worth $3,176,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GMED. Moneta Group Investment Advisors LLC acquired a new position in Globus Medical during the 1st quarter valued at about $106,000. C M Bidwell & Associates Ltd. acquired a new position in Globus Medical during the 1st quarter valued at about $126,000. Smithfield Trust Co. increased its stake in Globus Medical by 3,711.1% during the 1st quarter. Smithfield Trust Co. now owns 3,430 shares of the medical device company’s stock valued at $171,000 after buying an additional 3,340 shares during the period. Clarus Wealth Advisors acquired a new position in Globus Medical during the 2nd quarter valued at about $194,000. Finally, Meeder Asset Management Inc. increased its stake in Globus Medical by 2,129.4% during the 1st quarter. Meeder Asset Management Inc. now owns 4,013 shares of the medical device company’s stock valued at $202,000 after buying an additional 3,833 shares during the period. 63.91% of the stock is currently owned by hedge funds and other institutional investors.

In other Globus Medical news, President Anthony L. Williams sold 121,667 shares of the firm’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $56.14, for a total value of $6,830,385.38. Following the completion of the transaction, the president now directly owns 10,000 shares in the company, valued at $561,400. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David C. Paul sold 6,841 shares of the firm’s stock in a transaction dated Tuesday, July 17th. The stock was sold at an average price of $52.95, for a total transaction of $362,230.95. Following the completion of the transaction, the insider now owns 605,871 shares of the company’s stock, valued at $32,080,869.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 138,508 shares of company stock valued at $7,730,516. Corporate insiders own 28.44% of the company’s stock.

Several equities analysts have recently weighed in on GMED shares. Oppenheimer set a $52.00 price objective on shares of Globus Medical and gave the company a “hold” rating in a research report on Thursday, May 3rd. Zacks Investment Research lowered shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. Morgan Stanley raised their price objective on shares of Globus Medical from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 2nd. Needham & Company LLC raised their price objective on shares of Globus Medical from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. Finally, Leerink Swann raised their price objective on shares of Globus Medical from $60.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, May 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $54.36.

NYSE:GMED opened at $52.57 on Friday. Globus Medical Inc has a twelve month low of $27.79 and a twelve month high of $57.55. The stock has a market cap of $5.15 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 2.68 and a beta of 0.57.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Wednesday, August 1st. The medical device company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.09. Globus Medical had a net margin of 19.91% and a return on equity of 15.14%. The company had revenue of $173.40 million during the quarter, compared to analyst estimates of $168.03 million. During the same quarter last year, the firm posted $0.32 EPS. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. sell-side analysts expect that Globus Medical Inc will post 1.55 earnings per share for the current year.

Globus Medical Company Profile

Globus Medical, Inc, a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address an array of spinal pathologies, anatomies, and surgical approaches. Its fusion products include a range of implant and surgical approach options to treat degenerative, deformity, tumor, and trauma conditions along the spine from the occiput to the sacrum.

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

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