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Globus Medical Inc (NYSE:GMED) Shares Acquired by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC lifted its position in shares of Globus Medical Inc (NYSE:GMED) by 32.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,319 shares of the medical device company’s stock after buying an additional 1,316 shares during the period. Greenwood Capital Associates LLC’s holdings in Globus Medical were worth $313,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Globus Medical by 0.9% during the 2nd quarter. BlackRock Inc. now owns 9,629,795 shares of the medical device company’s stock worth $407,340,000 after purchasing an additional 89,022 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Globus Medical by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 571,952 shares of the medical device company’s stock valued at $33,677,000 after buying an additional 11,128 shares during the last quarter. Boston Trust Walden Corp boosted its position in Globus Medical by 1.9% in the 4th quarter. Boston Trust Walden Corp now owns 431,209 shares of the medical device company’s stock valued at $25,390,000 after buying an additional 7,917 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in Globus Medical by 1.0% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 390,619 shares of the medical device company’s stock valued at $23,000,000 after buying an additional 3,900 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Globus Medical by 22.9% in the 3rd quarter. Millennium Management LLC now owns 316,430 shares of the medical device company’s stock valued at $16,175,000 after buying an additional 58,930 shares during the last quarter. Institutional investors and hedge funds own 67.74% of the company’s stock.

Shares of NYSE:GMED opened at $39.17 on Tuesday. The firm’s 50 day moving average is $51.98 and its two-hundred day moving average is $53.21. Globus Medical Inc has a 52 week low of $36.04 and a 52 week high of $60.15. The firm has a market capitalization of $4.27 billion, a P/E ratio of 25.60, a PEG ratio of 2.07 and a beta of 1.08.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.03). Globus Medical had a net margin of 19.76% and a return on equity of 13.01%. The firm had revenue of $211.67 million during the quarter, compared to analyst estimates of $211.11 million. During the same quarter in the previous year, the business posted $0.43 EPS. Globus Medical’s revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Globus Medical Inc will post 1.82 EPS for the current fiscal year.

A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Globus Medical from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Friday, December 13th. ValuEngine cut shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Morgan Stanley cut shares of Globus Medical from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 2nd. Cantor Fitzgerald reissued a “buy” rating and issued a $64.00 price objective on shares of Globus Medical in a research report on Thursday, January 9th. Finally, Wells Fargo & Co raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and set a $63.00 price target on the stock in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $63.00.

In other Globus Medical news, SVP Kelly Huller sold 6,460 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $58.90, for a total value of $380,494.00. Following the sale, the senior vice president now owns 3,076 shares in the company, valued at $181,176.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 24.97% of the stock is currently owned by company insiders.

Globus Medical 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 a variety of musculoskeletal pathologies, anatomies, and surgical approaches.

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



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