Pembroke Management LTD purchased a new position in shares of Globus Medical Inc (NYSE:GMED) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 236,500 shares of the medical device company’s stock, valued at approximately $9,720,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in Globus Medical by 1.2% during the 2nd 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 in the last quarter. Advisor Group Inc. lifted its position in Globus Medical by 2.0% during the 2nd 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 in the last quarter. 1st Global Advisors Inc. lifted its position in Globus Medical by 1.2% during the 2nd 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 in the last quarter. Citigroup Inc. lifted its position in Globus Medical by 2.8% during the 2nd quarter. Citigroup Inc. now owns 5,950 shares of the medical device company’s stock worth $197,000 after buying an additional 161 shares in the last quarter. Finally, Amalgamated Bank lifted its position in Globus Medical by 5.3% during the 2nd quarter. Amalgamated Bank now owns 10,162 shares of the medical device company’s stock worth $337,000 after buying an additional 511 shares in the last quarter. Institutional investors and hedge funds own 70.03% of the company’s stock.

In related news, insider A Brett Murphy sold 51,449 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were 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 in the company, valued at approximately $1,741,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David D. Davidar sold 55,383 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $40.66, for a total transaction of $2,251,872.78. Following the completion of the sale, the director now owns 752,236 shares in the company, valued at $30,585,915.76. The disclosure for this sale can be found here. Insiders sold a total of 124,908 shares of company stock worth $4,747,975 over the last quarter. 28.21% of the stock is currently owned by corporate insiders.

Shares of Globus Medical Inc (NYSE:GMED) opened at $46.04 on Thursday. The firm has a market cap of $4,484.38, a P/E ratio of 41.85, a P/E/G ratio of 2.72 and a beta of 0.56. Globus Medical Inc has a 52-week low of $25.85 and a 52-week high of $47.09.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Wednesday, November 8th. The medical device company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates 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%. Globus Medical’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. equities research analysts expect that Globus Medical Inc will post 1.28 EPS for the current year.

GMED has been the topic of a number of research reports. Barclays cut their target price on shares of Globus Medical from $28.00 to $27.00 and set an “underweight” rating on the stock in a research report on Thursday, October 19th. ValuEngine downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BidaskClub upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Zacks Investment Research downgraded shares of Globus Medical from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of Globus Medical in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. Globus Medical presently has a consensus rating of “Buy” and an average price target of $40.57.

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Globus Medical Profile

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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