Nordea Investment Management AB Increases Holdings in Globus Medical, Inc. (GMED)

Nordea Investment Management AB raised its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 235.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,469 shares of the medical device company’s stock after buying an additional 54,368 shares during the period. Nordea Investment Management AB owned about 0.08% of Globus Medical worth $2,302,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Teachers Advisors LLC boosted its position in shares of Globus Medical by 1.7% in the first quarter. Teachers Advisors LLC now owns 119,398 shares of the medical device company’s stock worth $3,537,000 after purchasing an additional 1,963 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Globus Medical by 3.3% in the second quarter. Louisiana State Employees Retirement System now owns 18,800 shares of the medical device company’s stock worth $623,000 after purchasing an additional 600 shares during the period. Aperio Group LLC boosted its position in shares of Globus Medical by 132.2% in the second quarter. Aperio Group LLC now owns 34,135 shares of the medical device company’s stock worth $1,132,000 after purchasing an additional 19,437 shares during the period. State Treasurer State of Michigan boosted its position in shares of Globus Medical by 2.1% in the second quarter. State Treasurer State of Michigan now owns 29,800 shares of the medical device company’s stock worth $988,000 after purchasing an additional 600 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Globus Medical by 20.8% in the second quarter. Russell Investments Group Ltd. now owns 165,030 shares of the medical device company’s stock worth $5,471,000 after purchasing an additional 28,437 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

In related news, insider A Brett Murphy sold 51,449 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $35.00, for a total transaction of $1,800,715.00. Following the sale, the insider now owns 49,768 shares of the company’s stock, valued at $1,741,880. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 28.21% of the stock is owned by corporate insiders.

A number of brokerages recently weighed in on GMED. BidaskClub upgraded shares of Globus Medical from a “sell” rating to a “hold” rating in a research report on Saturday, October 7th. Oppenheimer restated a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 30th. Wells Fargo & Company upgraded shares of Globus Medical from a “market perform” rating to an “outperform” rating and set a $46.00 target price for the company in a research report on Monday. Zacks Investment Research upgraded shares of Globus Medical from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Finally, Canaccord Genuity restated a “buy” rating and set a $38.00 target price on shares of Globus Medical in a research report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Globus Medical has an average rating of “Hold” and a consensus target price of $36.83.

Shares of Globus Medical, Inc. (NYSE:GMED) traded up $0.11 during trading hours on Wednesday, hitting $40.29. 1,058,700 shares of the company were exchanged, compared to its average volume of 689,866. Globus Medical, Inc. has a 12-month low of $22.74 and a 12-month high of $41.70. The company has a market capitalization of $3,872.39, a price-to-earnings ratio of 32.14, a price-to-earnings-growth ratio of 3.13 and a beta of 0.58.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Wednesday, November 8th. The medical device company reported $0.30 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.30. The company had revenue of $151.74 million for the quarter, compared to the consensus estimate of $150.73 million. Globus Medical had a net margin of 17.54% and a return on equity of 13.67%. Globus Medical’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 earnings per share. analysts anticipate that Globus Medical, Inc. will post 1.27 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Nordea Investment Management AB Increases Holdings in Globus Medical, Inc. (GMED)” was originally posted by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another publication, it was stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this story can be viewed at https://www.com-unik.info/2017/12/06/nordea-investment-management-ab-increases-holdings-in-globus-medical-inc-gmed.html.

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.

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

What are top analysts saying about Globus Medical Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Globus Medical Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit