Texas Permanent School Fund Has $2.01 Million Position in Globus Medical Inc (GMED)

Texas Permanent School Fund trimmed its position in Globus Medical Inc (NYSE:GMED) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,000 shares of the medical device company’s stock after selling 3,711 shares during the quarter. Texas Permanent School Fund’s holdings in Globus Medical were worth $2,014,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its stake in shares of Globus Medical by 1.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock worth $100,000 after buying an additional 35 shares during the period. Advisor Group Inc. increased its stake in shares of Globus Medical by 2.0% in the second quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock worth $114,000 after buying an additional 68 shares during the period. 1st Global Advisors Inc. increased its stake in shares of Globus Medical by 1.2% in the second quarter. 1st Global Advisors Inc. now owns 11,308 shares of the medical device company’s stock worth $375,000 after buying an additional 130 shares during the period. Citigroup Inc. increased its stake in shares of Globus Medical by 2.8% in the second quarter. Citigroup Inc. now owns 5,950 shares of the medical device company’s stock worth $197,000 after buying an additional 161 shares during the period. Finally, M&T Bank Corp increased its stake in shares of Globus Medical by 6.0% in the second quarter. M&T Bank Corp now owns 9,525 shares of the medical device company’s stock worth $316,000 after buying an additional 537 shares during the period. 70.28% of the stock is currently owned by institutional investors.

Globus Medical Inc (GMED) opened at $44.60 on Thursday. The stock has a market cap of $4,302.23, a price-to-earnings ratio of 35.71, a price-to-earnings-growth ratio of 2.61 and a beta of 0.48. Globus Medical Inc has a 1 year low of $26.26 and a 1 year high of $47.09.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data 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 business 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%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 EPS. analysts anticipate that Globus Medical Inc will post 1.28 EPS for the current year.

GMED has been the topic of several analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $38.00 target price on shares of Globus Medical in a research note on Thursday, November 9th. ValuEngine raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. BTIG Research reaffirmed a “buy” rating and issued a $37.00 target price on shares of Globus Medical in a research note on Thursday, November 9th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Globus Medical in a research note on Thursday, October 19th. Finally, Gabelli reaffirmed a “buy” rating on shares of Globus Medical in a research note on Tuesday, November 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $40.57.

In other Globus Medical news, President Anthony L. Williams sold 15,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $38.30, for a total transaction of $574,500.00. Following the transaction, the president now directly owns 15,000 shares of the company’s stock, valued at approximately $574,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Steven Payne sold 3,076 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $39.30, for a total transaction of $120,886.80. Following the transaction, the chief accounting officer now directly owns 23,847 shares in the company, valued at $937,187.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,459 shares of company stock worth $2,947,260. Insiders own 28.21% of the company’s stock.

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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.

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

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