Public Employees Retirement System of Ohio Decreases Stake in Globus Medical, Inc. $GMED

Public Employees Retirement System of Ohio lessened its stake in Globus Medical, Inc. (NYSE:GMED) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,403 shares of the medical device company’s stock after selling 1,655 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Globus Medical were worth $2,089,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the business. Farther Finance Advisors LLC increased its stake in shares of Globus Medical by 145.5% in the first quarter. Farther Finance Advisors LLC now owns 405 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 240 shares during the period. Larson Financial Group LLC boosted its holdings in Globus Medical by 1,007.7% during the first quarter. Larson Financial Group LLC now owns 432 shares of the medical device company’s stock worth $32,000 after buying an additional 393 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Globus Medical by 62.1% during the first quarter. Parallel Advisors LLC now owns 504 shares of the medical device company’s stock worth $37,000 after buying an additional 193 shares in the last quarter. Versant Capital Management Inc boosted its stake in Globus Medical by 932.1% in the 1st quarter. Versant Capital Management Inc now owns 547 shares of the medical device company’s stock worth $40,000 after purchasing an additional 494 shares during the period. Finally, Whittier Trust Co. boosted its stake in Globus Medical by 46.5% in the 1st quarter. Whittier Trust Co. now owns 580 shares of the medical device company’s stock worth $42,000 after purchasing an additional 184 shares during the period. Institutional investors own 95.16% of the company’s stock.

Globus Medical Trading Down 1.1%

Shares of GMED stock opened at $58.00 on Friday. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $94.93. The firm’s 50 day moving average is $58.06 and its 200-day moving average is $62.05. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.61 and a beta of 1.12.

Globus Medical (NYSE:GMED) last announced its earnings results on Thursday, August 7th. The medical device company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. The company had revenue of $745.34 million for the quarter, compared to analyst estimates of $738.91 million. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. Globus Medical’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 earnings per share. On average, equities research analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Globus Medical

In related news, Director Ann D. Rhoads sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $58.46, for a total transaction of $584,600.00. Following the completion of the sale, the director directly owned 25,384 shares of the company’s stock, valued at $1,483,948.64. The trade was a 28.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 18.51% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a report on Monday, July 21st. Canaccord Genuity Group cut their price target on shares of Globus Medical from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 22nd. Wells Fargo & Company dropped their target price on shares of Globus Medical from $76.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Finally, Morgan Stanley decreased their price target on shares of Globus Medical from $75.00 to $68.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 15th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.64.

Globus Medical Profile

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.