Nine Chapters Capital Management LLC Acquires Shares of 12,200 Globus Medical, Inc. (GMED)

Nine Chapters Capital Management LLC acquired a new position in shares of Globus Medical, Inc. (NYSE:GMED) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,200 shares of the medical device company’s stock, valued at approximately $363,000.

Several other large investors also recently bought and sold shares of GMED. Bank of America Corp DE boosted its position in shares of Globus Medical by 17.5% during the 1st quarter. Bank of America Corp DE now owns 578,179 shares of the medical device company’s stock valued at $17,125,000 after acquiring an additional 86,033 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Globus Medical by 19.9% during the 2nd quarter. SG Americas Securities LLC now owns 47,862 shares of the medical device company’s stock valued at $1,587,000 after acquiring an additional 7,937 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Globus Medical by 12.8% during the 1st quarter. Geode Capital Management LLC now owns 750,463 shares of the medical device company’s stock valued at $22,228,000 after acquiring an additional 84,912 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Globus Medical by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 5,712,043 shares of the medical device company’s stock valued at $189,355,000 after acquiring an additional 76,345 shares in the last quarter. Finally, AJO LP acquired a new stake in shares of Globus Medical during the 2nd quarter valued at about $1,262,000. Institutional investors own 65.64% of the company’s stock.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $152.39 million for the quarter, compared to the consensus estimate of $150.94 million. Globus Medical had a net margin of 18.12% and a return on equity of 13.99%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share.

Several analysts have recently weighed in on the stock. Morgan Stanley reiterated an “equal weight” rating on shares of Globus Medical in a research report on Tuesday, July 11th. Gabelli reiterated a “buy” rating on shares of Globus Medical in a research report on Friday, August 4th. Barclays PLC reiterated an “underweight” rating and set a $28.00 target price (down from $30.00) on shares of Globus Medical in a research report on Thursday, August 3rd. Oppenheimer Holdings, Inc. set a $35.00 target price on shares of Globus Medical and gave the company a “hold” rating in a research report on Thursday, August 3rd. Finally, BidaskClub lowered shares of Globus Medical from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $30.57.

In other Globus Medical news, insider A Brett Murphy sold 15,000 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $29.99, for a total transaction of $449,850.00. Following the sale, the insider now directly owns 101,217 shares in the company, valued at $3,035,497.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 28.21% of the company’s stock.

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Globus Medical Company Profile

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

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