Globus Medical, Inc. $GMED is Pembroke Management LTD’s 6th Largest Position

Pembroke Management LTD raised its position in Globus Medical, Inc. (NYSE:GMED) by 12.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 600,935 shares of the medical device company’s stock after acquiring an additional 67,506 shares during the quarter. Globus Medical makes up 4.4% of Pembroke Management LTD’s portfolio, making the stock its 6th biggest holding. Pembroke Management LTD’s holdings in Globus Medical were worth $35,467,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. CENTRAL TRUST Co bought a new position in shares of Globus Medical in the 2nd quarter worth approximately $39,000. Allworth Financial LP increased its holdings in Globus Medical by 2,657.7% during the second quarter. Allworth Financial LP now owns 39,821 shares of the medical device company’s stock valued at $2,350,000 after buying an additional 38,377 shares during the last quarter. Future Fund LLC bought a new position in Globus Medical in the second quarter worth approximately $987,000. Global Alpha Capital Management Ltd. boosted its stake in shares of Globus Medical by 49.1% during the 2nd quarter. Global Alpha Capital Management Ltd. now owns 1,055,091 shares of the medical device company’s stock worth $62,271,000 after acquiring an additional 347,400 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Globus Medical by 26.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,636 shares of the medical device company’s stock valued at $628,000 after acquiring an additional 2,196 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Globus Medical news, Director Ann D. Rhoads sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $58.46, for a total transaction of $584,600.00. Following the completion of the transaction, the director owned 25,384 shares in the company, valued at $1,483,948.64. This trade represents a 28.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders sold 20,000 shares of company stock worth $1,402,600. Company insiders own 18.51% of the company’s stock.

Globus Medical Price Performance

GMED stock opened at $86.37 on Tuesday. Globus Medical, Inc. has a 1-year low of $51.79 and a 1-year high of $94.93. The business has a 50 day simple moving average of $60.33 and a two-hundred day simple moving average of $59.95. The company has a market capitalization of $11.66 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 1.68 and a beta of 1.15.

Globus Medical (NYSE:GMED) last announced its quarterly 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. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. The company had revenue of $769.05 million for the quarter, compared to the consensus estimate of $734.58 million. During the same period in the previous year, the firm posted $0.83 EPS. Globus Medical’s revenue for the quarter 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. Sell-side analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

GMED has been the subject of several analyst reports. Stifel Nicolaus started coverage on Globus Medical in a research note on Tuesday, October 28th. They issued a “hold” rating and a $64.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research note on Monday, July 21st. Wells Fargo & Company lifted their price objective on Globus Medical from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday. Truist Financial upgraded Globus Medical from a “hold” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $93.00 in a research note on Friday. Finally, Royal Bank Of Canada raised their target price on shares of Globus Medical from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Friday. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.82.

About Globus Medical

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.