Globus Medical, Inc. $GMED Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its position in shares of Globus Medical, Inc. (NYSE:GMED) by 55.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,455 shares of the medical device company’s stock after selling 75,055 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Globus Medical were worth $3,520,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Globus Medical by 2.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,316 shares of the medical device company’s stock worth $375,000 after purchasing an additional 170 shares during the period. GAMMA Investing LLC lifted its position in Globus Medical by 14.7% during the third quarter. GAMMA Investing LLC now owns 1,438 shares of the medical device company’s stock valued at $82,000 after buying an additional 184 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Globus Medical by 74.3% during the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after buying an additional 197 shares during the period. Probity Advisors Inc. grew its stake in Globus Medical by 5.5% during the third quarter. Probity Advisors Inc. now owns 3,792 shares of the medical device company’s stock worth $217,000 after buying an additional 199 shares during the period. Finally, Ensign Peak Advisors Inc increased its position in shares of Globus Medical by 0.3% in the second quarter. Ensign Peak Advisors Inc now owns 68,468 shares of the medical device company’s stock worth $4,041,000 after acquiring an additional 230 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. TD Cowen started coverage on shares of Globus Medical in a report on Monday. They set a “buy” rating and a $110.00 target price on the stock. Stifel Nicolaus began coverage on Globus Medical in a research note on Tuesday, October 28th. They set a “hold” rating and a $64.00 price objective on the stock. Wells Fargo & Company increased their target price on Globus Medical from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Zacks Research lowered Globus Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Bank of America upgraded Globus Medical from a “neutral” rating to a “buy” rating and upped their price target for the stock from $65.00 to $91.00 in a report on Friday, November 7th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Insiders Place Their Bets

In related news, Director Stephen T. Zarrilli sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $84.29, for a total value of $2,107,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kelly Huller sold 7,500 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $90.00, for a total value of $675,000.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 91,636 shares of company stock worth $7,984,583. Company insiders own 18.51% of the company’s stock.

Globus Medical Stock Up 0.4%

GMED stock opened at $92.90 on Tuesday. The stock’s 50 day moving average is $89.49 and its two-hundred day moving average is $70.70. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $101.40. The company has a market capitalization of $12.43 billion, a PE ratio of 29.97, a P/E/G ratio of 1.37 and a beta of 1.06.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Thursday, November 6th. The medical device company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.39. Globus Medical had a net margin of 15.30% and a return on equity of 11.52%. The business had revenue of $769.05 million during the quarter, compared to the consensus estimate of $734.58 million. During the same quarter last year, the company earned $0.83 earnings per share. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. As a group, sell-side analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.

About Globus Medical

Globus Medical, Inc (NYSE:GMED) is a leading medical device company specializing in musculoskeletal solutions for spine and orthopaedic applications. Founded in 2003 by David C. Paul and headquartered in Audubon, Pennsylvania, the company develops, manufactures and markets implantable devices and surgical instruments designed to treat spinal disorders and promote bone healing. Its product portfolio encompasses solutions for minimally invasive and open surgical procedures, including interbody fusion devices, pedicle screw systems, and biologics used to enhance fusion outcomes.

In addition to its core spine business, Globus Medical has expanded into robotics and navigation systems to support precision and efficiency in the operating room.