Canada Pension Plan Investment Board Increased Globus Med Inc Cl A (NYSE:GMED) Stake by $14.23 Million

August 12, 2018 - By Eula Gilbert

Globus Medical, Inc. (NYSE:GMED) LogoInvestors sentiment increased to 1.06 in Q1 2018. Its up 0.07, from 0.99 in 2017Q4. It increased, as 25 investors sold GMED shares while 87 reduced holdings. 51 funds opened positions while 68 raised stakes. 58.48 million shares or 2.35% less from 59.89 million shares in 2017Q4 were reported. Metropolitan Life Insurance Co holds 0% or 41,464 shares. Oak Ridge Ltd Liability Corp invested in 892,236 shares. Paradigm Capital holds 3.1% of its portfolio in Globus Medical, Inc. (NYSE:GMED) for 735,500 shares. Principal Group invested in 362,540 shares or 0.02% of the stock. Jfs Wealth Advsrs Limited Com owns 178 shares. Blackrock invested in 0.02% or 8.01 million shares. Lpl Lc reported 30,442 shares or 0% of all its holdings. Raymond James Assoc stated it has 0% of its portfolio in Globus Medical, Inc. (NYSE:GMED). Amalgamated Retail Bank reported 10,153 shares stake. 23,564 are held by Gam Holdings Ag. Bahl Gaynor reported 0.01% stake. Sei Invests Co invested in 37,865 shares or 0.01% of the stock. Northwestern Mutual Wealth Management Company has invested 0% in Globus Medical, Inc. (NYSE:GMED). Brandywine Mngmt Ltd invested 0.03% of its portfolio in Globus Medical, Inc. (NYSE:GMED). 73,348 were reported by Gofen Glossberg Ltd Com Il.

Canada Pension Plan Investment Board increased its stake in Globus Med Inc Cl A (NYSE:GMED) by 140.68% based on its latest 2018Q2 regulatory filing with the SEC. Canada Pension Plan Investment Board bought 284,600 shares as the company’s stock rose 14.73% while stock markets declined. The institutional investor held 486,900 shares of the health care company at the end of 2018Q2, valued at $24.57M, up from 202,300 at the end of the previous reported quarter. Canada Pension Plan Investment Board who had been investing in Globus Med Inc Cl A for a number of months, seems to be bullish on the $5.14 billion market cap company. The stock decreased 0.11% or $0.06 during the last trading session, reaching $52.35. About 748,681 shares traded or 23.58% up from the average. Globus Medical, Inc. (NYSE:GMED) has risen 75.85% since August 13, 2017 and is uptrending. It has outperformed by 63.28% the S&P500.

Canada Pension Plan Investment Board, which manages about $52.08B US Long portfolio, decreased its stake in Synopsys Inc Com (NASDAQ:SNPS) by 295,700 shares to 422,798 shares, valued at $36.18M in 2018Q2, according to the filing. It also reduced its holding in Momo Inc Adr () by 833,000 shares in the quarter, leaving it with 179,000 shares, and cut its stake in Mcdonalds Corp Com (NYSE:MCD).

Globus Medical, Inc. (NYSE:GMED) Ratings Coverage

Among 8 analysts covering Globus Medical (NYSE:GMED), 6 have Buy rating, 1 Sell and 1 Hold. Therefore 75% are positive. Globus Medical had 12 analyst reports since February 22, 2018 according to SRatingsIntel. The firm earned “Sell” rating on Wednesday, June 27 by Bank of America. The firm has “Overweight” rating by Morgan Stanley given on Thursday, August 2. Piper Jaffray maintained Globus Medical, Inc. (NYSE:GMED) on Thursday, February 22 with “Buy” rating. The stock has “Buy” rating by Canaccord Genuity on Thursday, February 22. The rating was upgraded by Needham on Wednesday, April 4 to “Buy”. Morgan Stanley maintained it with “Overweight” rating and $58 target in Thursday, May 3 report. The company was initiated on Thursday, May 31 by Cantor Fitzgerald. Leerink Swann maintained it with “Outperform” rating and $61 target in Wednesday, May 30 report. Leerink Swann maintained the shares of GMED in report on Wednesday, March 28 with “Buy” rating. The stock has “Neutral” rating by BTIG Research on Monday, April 16.

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 has market cap of $5.14 billion. The firm offers products that address an array of spinal pathologies, anatomies, and surgical approaches. It has a 38.63 P/E ratio. It provides fusion products that are used in cervical, thoracolumbar, sacral, and interbody/corpectomy fusion procedures to treat degenerative, deformity, tumor, and trauma conditions.

More recent Globus Medical, Inc. (NYSE:GMED) news were published by: Globenewswire.com which released: “Globus Medical Reports Second Quarter 2018 Results” on August 01, 2018. Also Seekingalpha.com published the news titled: “Globus Medical (GMED) Q2 2018 Results – Earnings Call Transcript” on August 01, 2018. Globenewswire.com‘s news article titled: “Globus Medical Schedules Second Quarter 2018 Earnings Release and Conference Call” with publication date: July 16, 2018 was also an interesting one.

Globus Medical, Inc. (NYSE:GMED) Institutional Positions Chart

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