Globus Medical, Inc. $GMED Stock Holdings Lessened by Strs Ohio

Strs Ohio cut its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 26.5% during the third quarter, HoldingsChannel.com reports. The firm owned 63,981 shares of the medical device company’s stock after selling 23,099 shares during the period. Strs Ohio’s holdings in Globus Medical were worth $3,664,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Boston Trust Walden Corp acquired a new stake in shares of Globus Medical during the 3rd quarter valued at $67,891,000. Norges Bank purchased a new stake in shares of Globus Medical during the second quarter worth $68,038,000. Marshall Wace LLP boosted its position in Globus Medical by 89.7% during the second quarter. Marshall Wace LLP now owns 1,580,476 shares of the medical device company’s stock valued at $93,280,000 after purchasing an additional 747,330 shares during the last quarter. Burgundy Asset Management Ltd. grew its stake in Globus Medical by 24.3% in the second quarter. Burgundy Asset Management Ltd. now owns 3,481,438 shares of the medical device company’s stock valued at $205,474,000 after purchasing an additional 679,691 shares in the last quarter. Finally, Sculptor Capital LP grew its stake in Globus Medical by 31.9% in the second quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company’s stock valued at $162,936,000 after purchasing an additional 667,850 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analysts Set New Price Targets

GMED has been the subject of a number of recent research reports. Morgan Stanley raised their price target on Globus Medical from $70.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Canaccord Genuity Group raised their price objective on shares of Globus Medical from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, January 9th. BTIG Research reissued a “neutral” rating on shares of Globus Medical in a research report on Tuesday, December 30th. Barclays increased their price target on shares of Globus Medical from $106.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Globus Medical in a research note on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $99.00.

Insiders Place Their Bets

In related news, Director David D. Davidar sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $86.00, for a total transaction of $2,150,000.00. Following the completion of the transaction, the director owned 516,275 shares of the company’s stock, valued at approximately $44,399,650. The trade was a 4.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kyle Kline sold 18,542 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $90.00, for a total value of $1,668,780.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 91,636 shares of company stock valued at $7,984,583 in the last ninety days. Company insiders own 18.54% of the company’s stock.

Globus Medical Stock Up 0.4%

NYSE:GMED opened at $92.90 on Tuesday. The company’s 50 day moving average is $89.49 and its 200-day moving average is $70.70. Globus Medical, Inc. has a 12 month low of $51.79 and a 12 month high of $101.40. The firm has a market cap of $12.43 billion, a price-to-earnings ratio of 29.97, a P/E/G ratio of 1.37 and a beta of 1.06.

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