NWQ Investment Management Company LLC bought a new stake in Globus Medical Inc (NYSE:GMED) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 869,985 shares of the medical device company’s stock, valued at approximately $25,856,000. NWQ Investment Management Company LLC owned approximately 0.90% of Globus Medical as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GMED. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Globus Medical by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,538 shares of the medical device company’s stock worth $349,000 after acquiring an additional 31 shares during the last quarter. 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 acquiring an additional 35 shares during the last quarter. Alps Advisors Inc. increased its stake in shares of Globus Medical by 0.3% in the second quarter. Alps Advisors Inc. now owns 17,464 shares of the medical device company’s stock worth $579,000 after acquiring an additional 45 shares during the last quarter. 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 acquiring an additional 68 shares during the last quarter. Finally, 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 acquiring an additional 130 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

GMED has been the topic of a number of research reports. Barclays reaffirmed an “underweight” rating and issued a $28.00 price target (down from $30.00) on shares of Globus Medical in a research note on Wednesday, August 9th. Canaccord Genuity reaffirmed a “buy” rating and issued a $37.00 price target on shares of Globus Medical in a research note on Friday, August 18th. BidaskClub downgraded shares of Globus Medical from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Zacks Investment Research raised shares of Globus Medical from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Finally, Oppenheimer reissued a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $36.83.

In other news, insider A Brett Murphy sold 51,449 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $35.00, for a total value of $1,800,715.00. Following the sale, the insider now directly owns 49,768 shares of the company’s stock, valued at $1,741,880. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David D. Davidar sold 55,383 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $40.66, for a total value of $2,251,872.78. Following the completion of the sale, the director now directly owns 752,236 shares in the company, valued at $30,585,915.76. The disclosure for this sale can be found here. Company insiders own 28.21% of the company’s stock.

Globus Medical Inc (GMED) traded down $1.18 during trading on Thursday, reaching $39.11. 628,900 shares of the company’s stock traded hands, compared to its average volume of 689,606. The firm has a market capitalization of $3,882.99, a P/E ratio of 32.23, a price-to-earnings-growth ratio of 3.14 and a beta of 0.58. Globus Medical Inc has a 52-week low of $23.04 and a 52-week high of $41.70.

Globus Medical (NYSE:GMED) last posted its earnings results on Wednesday, November 8th. The medical device company reported $0.30 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The firm 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 business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 earnings per share. equities analysts expect that Globus Medical Inc will post 1.27 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This report was originally reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this report on another site, it was stolen and reposted in violation of US and international trademark & copyright law. The legal version of this report can be accessed at https://theolympiareport.com/2017/12/07/nwq-investment-management-company-llc-invests-25-86-million-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)

Receive News & Ratings for Globus Medical Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.