Profit Investment Management LLC Decreases Stock Holdings in Globus Medical, Inc. $GMED

Profit Investment Management LLC lowered its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 67.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,149 shares of the medical device company’s stock after selling 12,838 shares during the quarter. Globus Medical comprises 2.2% of Profit Investment Management LLC’s holdings, making the stock its 21st largest holding. Profit Investment Management LLC’s holdings in Globus Medical were worth $537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd lifted its holdings in shares of Globus Medical by 49,020.3% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 891,043 shares of the medical device company’s stock valued at $51,034,000 after purchasing an additional 889,229 shares during the last quarter. William Blair Investment Management LLC grew its stake in Globus Medical by 17.2% during the 3rd quarter. William Blair Investment Management LLC now owns 2,819,165 shares of the medical device company’s stock worth $161,454,000 after buying an additional 414,134 shares during the last quarter. Paradice Investment Management LLC grew its stake in Globus Medical by 20.9% during the 3rd quarter. Paradice Investment Management LLC now owns 663,038 shares of the medical device company’s stock worth $37,972,000 after buying an additional 114,433 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Globus Medical by 189.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 476,531 shares of the medical device company’s stock valued at $27,953,000 after buying an additional 312,149 shares in the last quarter. Finally, Foresight Group Ltd Liability Partnership raised its stake in Globus Medical by 160.7% in the third quarter. Foresight Group Ltd Liability Partnership now owns 421,541 shares of the medical device company’s stock valued at $24,142,000 after buying an additional 259,870 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Stock Performance

Shares of NYSE GMED opened at $86.07 on Friday. The firm has a fifty day moving average of $90.10 and a 200 day moving average of $79.27. The firm has a market cap of $11.64 billion, a PE ratio of 21.84, a PEG ratio of 2.02 and a beta of 1.05. Globus Medical, Inc. has a one year low of $51.79 and a one year high of $101.40.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Tuesday, February 24th. The medical device company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.22. Globus Medical had a net margin of 18.30% and a return on equity of 12.57%. The business had revenue of $826.42 million for the quarter, compared to the consensus estimate of $803.29 million. During the same period last year, the firm posted $0.84 earnings per share. The company’s revenue was up 25.7% compared to the same quarter last year. On average, equities analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Insider Activity at Globus Medical

In other Globus Medical news, Director Leslie V. Norwalk sold 2,000 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $101.10, for a total transaction of $202,200.00. Following the completion of the transaction, the director owned 10,419 shares of the company’s stock, valued at $1,053,360.90. This represents a 16.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelly Huller sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $94.50, for a total value of $1,890,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 35,594 shares of company stock valued at $3,332,253. 18.51% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Piper Sandler restated an “overweight” rating and set a $115.00 price target (up from $90.00) on shares of Globus Medical in a research note on Thursday, January 8th. BTIG Research reiterated a “neutral” rating on shares of Globus Medical in a research note on Tuesday, December 30th. Truist Financial set a $115.00 target price on Globus Medical in a research note on Wednesday, February 25th. Zacks Research raised Globus Medical from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Finally, Wells Fargo & Company upgraded Globus Medical to a “strong-buy” rating in a research note on Wednesday. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Globus Medical has a consensus rating of “Moderate Buy” and a consensus target price of $104.36.

Globus Medical Company Profile

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.