Janney Montgomery Scott LLC Has $1.12 Million Stock Holdings in Globus Medical, Inc. $GMED

Janney Montgomery Scott LLC increased its position in shares of Globus Medical, Inc. (NYSE:GMED) by 4.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,908 shares of the medical device company’s stock after buying an additional 840 shares during the period. Janney Montgomery Scott LLC’s holdings in Globus Medical were worth $1,116,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Globus Medical by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 10,909,082 shares of the medical device company’s stock worth $798,545,000 after buying an additional 45,248 shares during the last quarter. Burgundy Asset Management Ltd. increased its position in Globus Medical by 7.0% in the first quarter. Burgundy Asset Management Ltd. now owns 2,801,747 shares of the medical device company’s stock worth $205,088,000 after purchasing an additional 183,639 shares during the last quarter. Sculptor Capital LP raised its holdings in Globus Medical by 0.7% during the 1st quarter. Sculptor Capital LP now owns 2,092,838 shares of the medical device company’s stock valued at $153,196,000 after buying an additional 15,000 shares during the period. Invesco Ltd. grew its position in shares of Globus Medical by 331.9% during the 1st quarter. Invesco Ltd. now owns 2,021,156 shares of the medical device company’s stock worth $147,949,000 after buying an additional 1,553,154 shares in the last quarter. Finally, Geneva Capital Management LLC raised its holdings in Globus Medical by 1.0% in the first quarter. Geneva Capital Management LLC now owns 1,833,647 shares of the medical device company’s stock worth $134,223,000 after purchasing an additional 17,810 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Ann D. Rhoads sold 10,000 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $58.46, for a total value of $584,600.00. Following the completion of the transaction, the director owned 25,384 shares of the company’s stock, valued at approximately $1,483,948.64. This represents a 28.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 18.54% of the stock is currently owned by insiders.

Globus Medical Stock Performance

Shares of NYSE:GMED opened at $57.53 on Tuesday. The firm’s fifty day moving average is $58.85 and its 200-day moving average is $61.16. Globus Medical, Inc. has a 52 week low of $51.79 and a 52 week high of $94.93. The firm has a market cap of $7.77 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 1.55 and a beta of 1.12.

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

Analysts Set New Price Targets

Several analysts recently commented on the company. Canaccord Genuity Group dropped their price target on Globus Medical from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 22nd. Wall Street Zen downgraded Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Wells Fargo & Company cut their price objective on Globus Medical from $76.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a report on Monday, July 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Globus Medical in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.27.

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.