Bessemer Group Inc. increased its position in Globus Medical, Inc. (NYSE:GMED) by 8.9% during the second quarter, Holdings Channel reports. The fund owned 28,185 shares of the medical device company’s stock after buying an additional 2,300 shares during the period. Bessemer Group Inc.’s holdings in Globus Medical were worth $934,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of GMED. Advantus Capital Management Inc raised its position in shares of Globus Medical by 3.0% in the first quarter. Advantus Capital Management Inc now owns 9,209 shares of the medical device company’s stock worth $273,000 after buying an additional 270 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Globus Medical by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the medical device company’s stock worth $539,000 after buying an additional 400 shares during the period. State Treasurer State of Michigan raised its position in shares of Globus Medical by 1.4% in the first quarter. State Treasurer State of Michigan now owns 29,200 shares of the medical device company’s stock worth $865,000 after buying an additional 400 shares during the period. Mason Street Advisors LLC raised its position in shares of Globus Medical by 1.2% in the first quarter. Mason Street Advisors LLC now owns 33,980 shares of the medical device company’s stock worth $1,006,000 after buying an additional 410 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of Globus Medical by 1.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 33,330 shares of the medical device company’s stock worth $987,000 after buying an additional 560 shares during the period. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Shares of Globus Medical, Inc. (NYSE:GMED) opened at 29.59 on Wednesday. The stock has a 50 day moving average price of $31.56 and a 200 day moving average price of $30.25. Globus Medical, Inc. has a one year low of $19.25 and a one year high of $34.03. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 26.66 and a beta of 0.60.

Globus Medical (NYSE:GMED) last released its earnings results on Wednesday, August 2nd. The medical device company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The company had revenue of $152.39 million during the quarter, compared to analysts’ expectations of $150.94 million. Globus Medical had a return on equity of 13.99% and a net margin of 18.12%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $0.29 EPS. On average, equities research analysts forecast that Globus Medical, Inc. will post $1.27 EPS for the current year.

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A number of research analysts have issued reports on the company. BidaskClub upgraded Globus Medical from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research lowered Globus Medical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Oppenheimer Holdings, Inc. set a $32.00 price target on Globus Medical and gave the stock a “hold” rating in a research report on Thursday, May 4th. Morgan Stanley reiterated an “equal weight” rating on shares of Globus Medical in a research report on Tuesday, July 11th. Finally, Barclays PLC reiterated a “sell” rating and set a $30.00 price target on shares of Globus Medical in a research report on Friday, May 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.43.

In other news, President Anthony L. Williams sold 16,153 shares of Globus Medical stock in a transaction on Monday, June 5th. The stock was sold at an average price of $31.94, for a total value of $515,926.82. Following the completion of the sale, the president now directly owns 16,153 shares of the company’s stock, valued at approximately $515,926.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 28.21% of the stock is currently owned by company insiders.

About Globus Medical

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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