GW&K Investment Management LLC Sells 148,394 Shares of Globus Medical Inc (GMED)

GW&K Investment Management LLC lowered its stake in shares of Globus Medical Inc (NYSE:GMED) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,290,034 shares of the medical device company’s stock after selling 148,394 shares during the quarter. Globus Medical accounts for 0.9% of GW&K Investment Management LLC’s investment portfolio, making the stock its 22nd largest holding. GW&K Investment Management LLC owned 1.34% of Globus Medical worth $53,020,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in GMED. PNC Financial Services Group Inc. boosted its position in Globus Medical by 1.2% in 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 last quarter. Advisor Group Inc. boosted its position in Globus Medical by 2.0% in 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 last quarter. Victory Capital Management Inc. boosted its position in Globus Medical by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,398 shares of the medical device company’s stock worth $179,000 after purchasing an additional 808 shares during the last quarter. Citigroup Inc. boosted its position in Globus Medical by 2.8% in the second quarter. Citigroup Inc. now owns 5,950 shares of the medical device company’s stock worth $197,000 after purchasing an additional 161 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Globus Medical in the third quarter worth $177,000. Institutional investors and hedge funds own 70.24% of the company’s stock.

Shares of Globus Medical Inc (GMED) traded up $0.44 during midday trading on Friday, hitting $43.50. The stock had a trading volume of 518,546 shares, compared to its average volume of 830,546. Globus Medical Inc has a 1 year low of $25.67 and a 1 year high of $46.51. The stock has a market cap of $4,180.00, a PE ratio of 39.55, a PEG ratio of 2.68 and a beta of 0.56.

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

In other news, insider A Brett Murphy sold 51,449 shares of the company’s stock in a transaction 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 owns 49,768 shares of the company’s stock, valued at approximately $1,741,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Steven Payne sold 3,076 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $39.30, for a total value of $120,886.80. Following the transaction, the chief accounting officer now directly owns 23,847 shares in the company, valued at approximately $937,187.10. The disclosure for this sale can be found here. Insiders have sold a total of 124,908 shares of company stock worth $4,747,975 in the last ninety days. Insiders own 28.21% of the company’s stock.

Several research analysts have weighed in on GMED shares. Canaccord Genuity reissued a “buy” rating and issued a $38.00 price objective on shares of Globus Medical in a research report on Thursday, November 9th. BTIG Research reissued a “buy” rating and issued a $37.00 price objective on shares of Globus Medical in a research report on Thursday, November 9th. Piper Jaffray Companies reissued a “buy” rating on shares of Globus Medical in a research report on Thursday, October 19th. ValuEngine raised Globus Medical from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Finally, BidaskClub raised Globus Medical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.57.

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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.

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

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