Johnson Investment Counsel Inc. Buys 201 Shares of Globus Medical, Inc. (NYSE:GMED)

Johnson Investment Counsel Inc. lifted its stake in Globus Medical, Inc. (NYSE:GMED) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,539 shares of the medical device company’s stock after acquiring an additional 201 shares during the period. Johnson Investment Counsel Inc.’s holdings in Globus Medical were worth $3,065,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GMED. HighTower Advisors LLC raised its position in shares of Globus Medical by 21.6% in the first quarter. HighTower Advisors LLC now owns 4,986 shares of the medical device company’s stock worth $308,000 after buying an additional 885 shares in the last quarter. Russell Investments Group Ltd. raised its position in Globus Medical by 54.1% during the first quarter. Russell Investments Group Ltd. now owns 28,568 shares of the medical device company’s stock valued at $1,760,000 after purchasing an additional 10,033 shares in the last quarter. Teacher Retirement System of Texas raised its position in Globus Medical by 21.9% during the first quarter. Teacher Retirement System of Texas now owns 8,497 shares of the medical device company’s stock valued at $524,000 after purchasing an additional 1,527 shares in the last quarter. Panagora Asset Management Inc. raised its position in Globus Medical by 396.4% during the first quarter. Panagora Asset Management Inc. now owns 2,214 shares of the medical device company’s stock valued at $137,000 after purchasing an additional 1,768 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Globus Medical by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 160,362 shares of the medical device company’s stock worth $9,890,000 after buying an additional 1,719 shares during the period. 66.96% of the stock is owned by hedge funds and other institutional investors.

Shares of GMED opened at $75.50 on Thursday. The firm has a market cap of $7.62 billion, a PE ratio of 41.94, a P/E/G ratio of 4.27 and a beta of 1.08. The firm has a fifty day simple moving average of $79.43 and a two-hundred day simple moving average of $75.46. Globus Medical, Inc. has a 1-year low of $49.36 and a 1-year high of $84.23.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Wednesday, August 4th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.12. Globus Medical had a net margin of 19.83% and a return on equity of 14.10%. The firm had revenue of $251.02 million during the quarter, compared to the consensus estimate of $225.50 million. During the same quarter in the previous year, the firm posted $0.07 EPS. The company’s revenue for the quarter was up 68.6% compared to the same quarter last year. Research analysts expect that Globus Medical, Inc. will post 2 earnings per share for the current fiscal year.

In other Globus Medical news, CFO Keith W. Pfeil sold 833 shares of the stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $76.13, for a total transaction of $63,416.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith W. Pfeil sold 834 shares of the stock in a transaction dated Monday, July 19th. The shares were sold at an average price of $78.25, for a total transaction of $65,260.50. The disclosure for this sale can be found here. Insiders sold a total of 2,500 shares of company stock valued at $198,016 in the last ninety days. 16.50% of the stock is currently owned by insiders.

Several analysts recently issued reports on GMED shares. Wells Fargo & Company raised their target price on Globus Medical from $78.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, August 5th. Citigroup raised their target price on Globus Medical from $81.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, August 5th. SVB Leerink lifted their price objective on Globus Medical from $88.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, August 5th. Canaccord Genuity lifted their price objective on Globus Medical from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, August 5th. Finally, Morgan Stanley lifted their price objective on Globus Medical from $77.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, August 5th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $81.54.

Globus Medical Profile

Globus Medical, Inc operates as a medical device company that develops and commercializes healthcare solutions. The firm engages in developing products that promote healing in patients with musculoskeletal disorders. It classifies products into Innovative Fusion and Disruptive Technology. It operates through the United States and International geographical segments.

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

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