Arizona State Retirement System lifted its position in shares of Globus Medical Inc (NYSE:GMED) by 27.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,178 shares of the medical device company’s stock after purchasing an additional 11,270 shares during the period. Arizona State Retirement System’s holdings in Globus Medical were worth $2,145,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Globus Medical by 39.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,183 shares of the medical device company’s stock worth $172,000 after purchasing an additional 1,183 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Globus Medical during the 3rd quarter worth $177,000. Macquarie Group Ltd. purchased a new stake in shares of Globus Medical during the 3rd quarter worth $187,000. Greenwood Capital Associates LLC purchased a new stake in shares of Globus Medical during the 4th quarter worth $204,000. Finally, Sawgrass Asset Management LLC purchased a new stake in shares of Globus Medical during the 3rd quarter worth $212,000. 64.15% of the stock is owned by institutional investors and hedge funds.
In other news, CAO Steven Payne sold 3,076 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $39.30, for a total value of $120,886.80. Following the completion of the sale, the chief accounting officer now directly owns 23,847 shares of the company’s stock, valued at $937,187.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Anthony L. Williams sold 15,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $38.30, for a total transaction of $574,500.00. Following the completion of the sale, the president now directly owns 15,000 shares of the company’s stock, valued at $574,500. The disclosure for this sale can be found here. 28.21% of the stock is owned by insiders.
Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Wednesday, February 21st. The medical device company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. Globus Medical had a net margin of 16.88% and a return on equity of 13.93%. The firm had revenue of $176.03 million during the quarter, compared to analysts’ expectations of $175.50 million. During the same period in the previous year, the company earned $0.31 earnings per share. Globus Medical’s quarterly revenue was up 16.1% compared to the same quarter last year. analysts anticipate that Globus Medical Inc will post 1.5 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on GMED shares. BidaskClub raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Zacks Investment Research raised shares of Globus Medical from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating in a research report on Friday, November 10th. ValuEngine cut shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Oppenheimer set a $49.00 price objective on shares of Globus Medical and gave the stock a “hold” rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. Globus Medical presently has an average rating of “Buy” and an average target price of $49.57.
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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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