Oppenheimer Asset Management Inc. raised its stake in Globus Medical, Inc. (NYSE:GMED – Free Report) by 13.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,110 shares of the medical device company’s stock after purchasing an additional 3,059 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Globus Medical were worth $1,720,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC bought a new stake in Globus Medical in the 2nd quarter valued at about $33,000. GAMMA Investing LLC increased its holdings in shares of Globus Medical by 254.5% during the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after acquiring an additional 453 shares in the last quarter. YHB Investment Advisors Inc. acquired a new position in shares of Globus Medical during the first quarter worth approximately $50,000. International Assets Investment Management LLC bought a new position in shares of Globus Medical in the 2nd quarter worth $52,000. Finally, Mather Group LLC. acquired a new stake in Globus Medical in the 1st quarter valued at $69,000. Institutional investors and hedge funds own 95.16% of the company’s stock.
Insider Activity
In related news, Director Leslie V. Norwalk sold 1,000 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. Following the sale, the director now owns 16,419 shares of the company’s stock, valued at approximately $1,149,330. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ann D. Rhoads sold 15,000 shares of Globus Medical stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the completion of the sale, the director now owns 42,884 shares in the company, valued at approximately $3,017,318.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Leslie V. Norwalk sold 1,000 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $70.00, for a total value of $70,000.00. Following the transaction, the director now directly owns 16,419 shares of the company’s stock, valued at approximately $1,149,330. The disclosure for this sale can be found here. 18.54% of the stock is owned by company insiders.
Analysts Set New Price Targets
View Our Latest Stock Report on Globus Medical
Globus Medical Stock Up 0.3 %
NYSE GMED opened at $69.58 on Thursday. The company has a market cap of $9.42 billion, a PE ratio of 108.72, a price-to-earnings-growth ratio of 1.91 and a beta of 1.17. The firm’s 50-day simple moving average is $70.89 and its two-hundred day simple moving average is $63.32. Globus Medical, Inc. has a 52 week low of $43.38 and a 52 week high of $74.21.
Globus Medical (NYSE:GMED – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.68 by $0.07. Globus Medical had a net margin of 1.82% and a return on equity of 8.70%. The company had revenue of $629.69 million during the quarter, compared to the consensus estimate of $615.33 million. During the same period last year, the firm earned $0.63 EPS. Globus Medical’s revenue for the quarter was up 115.9% on a year-over-year basis. As a group, equities research analysts anticipate that Globus Medical, Inc. will post 2.84 EPS for the current year.
About Globus Medical
Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.
Read More
- Five stocks we like better than Globus Medical
- Low PE Growth Stocks: Unlocking Investment Opportunities
- How Much Can You Make in Stocks in One Month?
- What is Short Interest? How to Use It
- This Is the Top Large-Cap Stock Insiders Are Buying
- What Is WallStreetBets and What Stocks Are They Targeting?
- Capitalize on Micron’s 24% Drop—Wall Street Eyes Major Upside
Want to see what other hedge funds are holding GMED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globus Medical, Inc. (NYSE:GMED – Free Report).
Receive News & Ratings for Globus Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical and related companies with MarketBeat.com's FREE daily email newsletter.