Globus Medical, Inc. (NYSE:GMED) Shares Purchased by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. increased its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,539 shares of the medical device company’s stock after acquiring an additional 201 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Globus Medical were worth $3,065,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GMED. HighTower Advisors LLC boosted its position in Globus Medical by 21.6% during the first quarter. HighTower Advisors LLC now owns 4,986 shares of the medical device company’s stock worth $308,000 after acquiring an additional 885 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Globus Medical by 54.1% during the first quarter. Russell Investments Group Ltd. now owns 28,568 shares of the medical device company’s stock worth $1,760,000 after acquiring an additional 10,033 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Globus Medical by 21.9% in the 1st quarter. Teacher Retirement System of Texas now owns 8,497 shares of the medical device company’s stock valued at $524,000 after purchasing an additional 1,527 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Globus Medical by 396.4% in the 1st quarter. Panagora Asset Management Inc. now owns 2,214 shares of the medical device company’s stock valued at $137,000 after purchasing an additional 1,768 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Globus Medical by 1.1% in the 1st quarter. JPMorgan Chase & Co. now owns 160,362 shares of the medical device company’s stock valued at $9,890,000 after purchasing an additional 1,719 shares during the last quarter. Hedge funds and other institutional investors own 66.96% of the company’s stock.

In other Globus Medical news, CFO Keith W. Pfeil sold 834 shares of the business’s stock in a transaction that occurred on Monday, July 19th. The shares were sold at an average price of $78.25, for a total transaction of $65,260.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith W. Pfeil sold 833 shares of the business’s stock in a transaction that occurred on Thursday, August 19th. The stock was sold at an average price of $76.13, for a total transaction of $63,416.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,500 shares of company stock worth $198,016. 16.50% of the stock is owned by insiders.

Globus Medical stock opened at $75.50 on Thursday. The company’s 50 day simple moving average is $79.43 and its 200-day simple moving average is $75.46. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 41.94, a price-to-earnings-growth ratio of 4.27 and a beta of 1.08. Globus Medical, Inc. has a 1 year low of $49.36 and a 1 year high of $84.23.

Globus Medical (NYSE:GMED) last announced its earnings results on Wednesday, August 4th. The medical device company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.12. Globus Medical had a net margin of 19.83% and a return on equity of 14.10%. The firm had revenue of $251.02 million for the quarter, compared to the consensus estimate of $225.50 million. During the same period in the prior year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was up 68.6% on a year-over-year basis. As a group, equities research analysts forecast that Globus Medical, Inc. will post 2 earnings per share for the current year.

Several research firms have weighed in on GMED. Credit Suisse Group boosted their target price on shares of Globus Medical from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, August 5th. Wells Fargo & Company boosted their target price on shares of Globus Medical from $78.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, August 5th. Needham & Company LLC boosted their target price on shares of Globus Medical from $82.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, August 5th. Morgan Stanley boosted their target price on shares of Globus Medical from $77.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, August 5th. Finally, Canaccord Genuity boosted their target price on shares of Globus Medical from $80.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, August 5th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $81.54.

About Globus Medical

Globus Medical, Inc operates as a medical device company that develops and commercializes healthcare solutions. The firm engages in developing products that promote healing in patients with musculoskeletal disorders. It classifies products into Innovative Fusion and Disruptive Technology. It operates through the United States and International geographical segments.

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Institutional Ownership by Quarter for Globus Medical (NYSE:GMED)

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