Brinker Capital Inc. Buys 882 Shares of Globus Medical Inc (GMED)

Brinker Capital Inc. raised its holdings in Globus Medical Inc (NYSE:GMED) by 19.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,429 shares of the medical device company’s stock after buying an additional 882 shares during the quarter. Brinker Capital Inc.’s holdings in Globus Medical were worth $235,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. PRW Wealth Management LLC bought a new stake in Globus Medical during the fourth quarter worth $31,000. Ffcm LLC bought a new stake in Globus Medical during the fourth quarter worth $36,000. Huntington National Bank bought a new stake in Globus Medical during the fourth quarter worth $38,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Globus Medical during the fourth quarter worth $117,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Globus Medical by 18.6% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,614 shares of the medical device company’s stock worth $138,000 after buying an additional 567 shares in the last quarter. 69.26% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director James R. Tobin sold 8,900 shares of the stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $47.10, for a total transaction of $419,190.00. Following the sale, the director now owns 8,900 shares of the company’s stock, valued at approximately $419,190. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kelly Huller sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $48.59, for a total value of $145,770.00. Following the completion of the sale, the senior vice president now directly owns 12,384 shares in the company, valued at approximately $601,738.56. The disclosure for this sale can be found here. Insiders have sold a total of 426,852 shares of company stock valued at $20,061,774 in the last quarter. 28.44% of the stock is owned by corporate insiders.

Several equities research analysts recently issued reports on GMED shares. Morgan Stanley downgraded Globus Medical from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $64.00 to $49.00 in a report on Wednesday, January 2nd. ValuEngine downgraded Globus Medical from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Zacks Investment Research downgraded Globus Medical from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. Cantor Fitzgerald set a $60.00 price objective on Globus Medical and gave the company a “buy” rating in a research note on Friday, January 18th. Finally, Oppenheimer restated a “hold” rating on shares of Globus Medical in a research note on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Globus Medical has a consensus rating of “Hold” and a consensus target price of $58.30.

NYSE:GMED traded up $0.26 during trading on Friday, reaching $44.02. The company’s stock had a trading volume of 475,517 shares, compared to its average volume of 441,599. The company has a market capitalization of $4.34 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.26 and a beta of 0.86. Globus Medical Inc has a 12 month low of $38.01 and a 12 month high of $57.83.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Thursday, February 21st. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $195.94 million during the quarter, compared to the consensus estimate of $195.50 million. Globus Medical had a return on equity of 15.22% and a net margin of 21.95%. On average, sell-side analysts forecast that Globus Medical Inc will post 1.71 EPS for the current year.

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Globus Medical Company Profile

Globus Medical, Inc, a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address a variety of musculoskeletal pathologies, anatomies, and surgical approaches.

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

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