Schroder Investment Management Group reduced its stake in Globus Medical, Inc. (NYSE:GMED) by 5.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 327,900 shares of the medical device company’s stock after selling 20,600 shares during the period. Schroder Investment Management Group owned 0.45% of Globus Medical worth $10,942,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Sei Investments Co. increased its position in shares of Globus Medical by 18.9% during the second quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock worth $105,000 after acquiring an additional 503 shares in the last quarter. Elkfork Partners LLC bought a new stake in shares of Globus Medical during the first quarter worth about $114,000. Victory Capital Management Inc. increased its position in shares of Globus Medical by 22.1% during the first quarter. Victory Capital Management Inc. now owns 4,590 shares of the medical device company’s stock worth $136,000 after acquiring an additional 830 shares in the last quarter. Meadow Creek Investment Management LLC bought a new stake in shares of Globus Medical during the first quarter worth about $138,000. Finally, Turner Investments LLC bought a new stake in shares of Globus Medical during the second quarter worth about $166,000. 65.80% of the stock is owned by hedge funds and other institutional investors.

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In other Globus Medical news, insider A Brett Murphy sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $29.99, for a total transaction of $449,850.00. Following the completion of the sale, the insider now directly owns 101,217 shares in the company, valued at approximately $3,035,497.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 28.21% of the stock is currently owned by company insiders.

Several research firms have recently commented on GMED. BidaskClub raised shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research downgraded shares of Globus Medical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Morgan Stanley reissued an “equal weight” rating on shares of Globus Medical in a research report on Tuesday, July 11th. Barclays PLC reissued an “underweight” rating and set a $28.00 target price (down from $30.00) on shares of Globus Medical in a research report on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. set a $35.00 target price on shares of Globus Medical and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Globus Medical has a consensus rating of “Hold” and an average price target of $31.25.

Globus Medical, Inc. (NYSE GMED) opened at 30.15 on Friday. Globus Medical, Inc. has a 12-month low of $19.25 and a 12-month high of $34.03. The company’s 50-day moving average is $29.87 and its 200 day moving average is $30.65. The stock has a market capitalization of $2.90 billion, a PE ratio of 27.16 and a beta of 0.60.

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

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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