Oppenheimer Asset Management Inc. Has $1.77 Million Stock Holdings in Globus Medical, Inc. $GMED

Oppenheimer Asset Management Inc. cut its holdings in Globus Medical, Inc. (NYSE:GMED) by 23.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 20,313 shares of the medical device company’s stock after selling 6,193 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Globus Medical were worth $1,774,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in GMED. Advisory Services Network LLC acquired a new stake in Globus Medical in the third quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its stake in Globus Medical by 74.3% in the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 197 shares during the last quarter. First Horizon Corp acquired a new stake in Globus Medical in the third quarter valued at approximately $31,000. Parallel Advisors LLC lifted its stake in Globus Medical by 45.1% in the third quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock valued at $32,000 after acquiring an additional 173 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Globus Medical in the third quarter valued at approximately $36,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Canaccord Genuity Group lifted their target price on shares of Globus Medical from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Zacks Research upgraded shares of Globus Medical from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. TD Cowen upgraded shares of Globus Medical to a “strong-buy” rating in a research note on Tuesday, January 27th. Barclays boosted their price objective on shares of Globus Medical from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Finally, Truist Financial set a $115.00 price objective on shares of Globus Medical in a research note on Wednesday, February 25th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.36.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $90.52 on Tuesday. The firm has a market capitalization of $12.24 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 2.13 and a beta of 1.00. The company’s fifty day moving average price is $90.09 and its two-hundred day moving average price is $86.03. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $101.40.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results 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. The firm had revenue of $826.42 million for the quarter, compared to analyst estimates of $803.29 million. Globus Medical had a net margin of 18.30% and a return on equity of 12.57%. The business’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. Analysts predict that Globus Medical, Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Transactions at Globus Medical

In other Globus Medical news, EVP Kelly Huller sold 20,000 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $94.50, for a total value of $1,890,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 18.51% of the stock is owned by company insiders.

Globus Medical 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.