Migdal Insurance & Financial Holdings Ltd. Has $308,000 Stake in Globus Medical Inc (GMED)

Migdal Insurance & Financial Holdings Ltd. trimmed its position in Globus Medical Inc (NYSE:GMED) by 40.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,233 shares of the medical device company’s stock after selling 4,228 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Globus Medical were worth $308,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its position in Globus Medical by 0.6% during the fourth quarter. BlackRock Inc. now owns 9,513,779 shares of the medical device company’s stock worth $411,756,000 after buying an additional 57,503 shares in the last quarter. Vanguard Group Inc. raised its position in Globus Medical by 3.4% in the third quarter. Vanguard Group Inc. now owns 6,735,494 shares of the medical device company’s stock valued at $382,306,000 after purchasing an additional 219,780 shares during the period. Vanguard Group Inc raised its position in Globus Medical by 3.4% in the third quarter. Vanguard Group Inc now owns 6,735,494 shares of the medical device company’s stock valued at $382,306,000 after purchasing an additional 219,780 shares during the period. Janus Henderson Group PLC raised its position in Globus Medical by 18.5% in the first quarter. Janus Henderson Group PLC now owns 3,375,803 shares of the medical device company’s stock valued at $166,798,000 after purchasing an additional 527,049 shares during the period. Finally, Investec Asset Management LTD purchased a new stake in Globus Medical in the fourth quarter valued at $64,761,000. Hedge funds and other institutional investors own 66.45% of the company’s stock.

GMED has been the topic of a number of research analyst reports. ValuEngine downgraded Globus Medical from a “buy” rating to a “hold” rating in a research 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. Oppenheimer reiterated a “hold” rating on shares of Globus Medical in a report on Tuesday, March 19th. Cantor Fitzgerald reiterated a “buy” rating and issued a $60.00 price objective on shares of Globus Medical in a report on Friday, March 1st. Finally, UBS Group upgraded Globus Medical from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $54.91.

GMED traded down $0.77 on Wednesday, hitting $39.65. 456,171 shares of the company were exchanged, compared to its average volume of 673,277. Globus Medical Inc has a twelve month low of $38.01 and a twelve month high of $57.83. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 2.08 and a beta of 0.79.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, May 2nd. The medical device company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.05). The business had revenue of $182.90 million for the quarter, compared to analyst estimates of $186.59 million. Globus Medical had a return on equity of 14.09% and a net margin of 20.81%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 earnings per share. As a group, equities research analysts anticipate that Globus Medical Inc will post 1.72 EPS for the current year.

In related news, SVP Kelly Huller sold 3,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was 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 of the company’s stock, valued at approximately $601,738.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Anthony L. Williams sold 212,082 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $46.83, for a total value of $9,931,800.06. Following the completion of the sale, the president now directly owns 89,583 shares of the company’s stock, valued at $4,195,171.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 417,952 shares of company stock valued at $19,642,584. Insiders own 24.97% of the company’s stock.

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Globus Medical 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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