Profit Investment Management LLC Has $1.09 Million Holdings in Globus Medical, Inc. $GMED

Profit Investment Management LLC cut its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 41.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,987 shares of the medical device company’s stock after selling 13,240 shares during the quarter. Profit Investment Management LLC’s holdings in Globus Medical were worth $1,087,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in Globus Medical by 74.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock valued at $27,000 after purchasing an additional 197 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Globus Medical in the 2nd quarter valued at $28,000. CENTRAL TRUST Co bought a new stake in Globus Medical during the second quarter valued at $39,000. Headlands Technologies LLC grew its stake in Globus Medical by 485.4% during the second quarter. Headlands Technologies LLC now owns 761 shares of the medical device company’s stock worth $45,000 after purchasing an additional 631 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Globus Medical by 41.1% in the 2nd quarter. Signaturefd LLC now owns 958 shares of the medical device company’s stock valued at $57,000 after acquiring an additional 279 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Trading Up 0.3%

Shares of Globus Medical stock opened at $87.16 on Monday. Globus Medical, Inc. has a 12 month low of $51.79 and a 12 month high of $94.93. The business has a fifty day simple moving average of $77.16 and a two-hundred day simple moving average of $64.78. The firm has a market capitalization of $11.67 billion, a P/E ratio of 28.12, a P/E/G ratio of 1.61 and a beta of 1.07.

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

Analyst Upgrades and Downgrades

GMED has been the topic of a number of recent research reports. Truist Financial reaffirmed a “buy” rating and issued a $105.00 price objective (up from $93.00) on shares of Globus Medical in a research note on Tuesday, November 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Globus Medical in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on shares of Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Morgan Stanley upped their price target on Globus Medical from $70.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Finally, Barclays raised their price objective on shares of Globus Medical from $106.00 to $114.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and an average price target of $93.11.

Insider Activity

In other news, CFO Kyle Kline sold 18,542 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $90.00, for a total value of $1,668,780.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann D. Rhoads sold 8,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $81.00, for a total value of $648,000.00. Following the completion of the transaction, the director directly owned 17,384 shares in the company, valued at $1,408,104. This trade represents a 31.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 86,042 shares of company stock worth $7,419,030. Insiders own 18.54% of the company’s stock.

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.