Globus Medical, Inc. (GMED) Shares Sold by Anchor Capital Advisors LLC
Anchor Capital Advisors LLC decreased its holdings in Globus Medical, Inc. (NYSE:GMED) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 541,284 shares of the medical device company’s stock after selling 13,432 shares during the quarter. Anchor Capital Advisors LLC owned approximately 0.56% of Globus Medical worth $16,087,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of GMED. PNC Financial Services Group Inc. boosted its position in shares of Globus Medical by 1.2% during the 2nd 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 in the last quarter. Sei Investments Co. boosted its position in shares of Globus Medical by 18.9% during the 2nd quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock worth $105,000 after purchasing an additional 503 shares in the last quarter. Advisor Group Inc. boosted its position in shares of Globus Medical by 2.0% during the 2nd 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 in the last quarter. Turner Investments LLC bought a new position in shares of Globus Medical during the 2nd quarter worth about $166,000. Finally, Victory Capital Management Inc. boosted its position in shares of Globus Medical by 17.6% during the 2nd 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 in the last quarter. 65.59% of the stock is currently owned by institutional investors.
Globus Medical, Inc. (NYSE GMED) traded up $0.15 during trading on Tuesday, hitting $37.46. 92,733 shares of the stock traded hands, compared to its average volume of 675,216. The stock has a market cap of $3,460.70, a PE ratio of 28.75, a P/E/G ratio of 2.80 and a beta of 0.55. Globus Medical, Inc. has a 12-month low of $20.52 and a 12-month high of $37.37.
Globus Medical (NYSE:GMED) last issued its earnings results on Wednesday, November 8th. The medical device company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $151.74 million for the quarter, compared to analysts’ expectations of $150.73 million. Globus Medical had a net margin of 17.54% and a return on equity of 13.67%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS. equities research analysts forecast that Globus Medical, Inc. will post 1.27 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. BTIG Research assumed coverage on shares of Globus Medical in a report on Thursday, September 7th. They issued a “buy” rating and a $37.00 target price on the stock. Gabelli restated a “buy” rating on shares of Globus Medical in a report on Friday, August 4th. Canaccord Genuity reiterated a “buy” rating and issued a $37.00 price objective on shares of Globus Medical in a research note on Friday, August 18th. Piper Jaffray Companies reiterated a “buy” rating on shares of Globus Medical in a research note on Thursday, October 19th. Finally, ValuEngine upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. Globus Medical currently has an average rating of “Buy” and a consensus price target of $34.00.
In related news, insider A Brett Murphy sold 15,000 shares of Globus Medical stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $29.99, for a total value of $449,850.00. Following the transaction, the insider now owns 101,217 shares in the company, valued at approximately $3,035,497.83. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 28.21% of the stock is 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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