Globus Medical, Inc. $GMED Shares Sold by Strs Ohio

Strs Ohio cut its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 26.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its position in Globus Medical by 2.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,316 shares of the medical device company’s stock worth $375,000 after acquiring an additional 170 shares during the period. GAMMA Investing LLC raised its stake in shares of Globus Medical by 14.7% during the third quarter. GAMMA Investing LLC now owns 1,438 shares of the medical device company’s stock valued at $82,000 after purchasing an additional 184 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Globus Medical by 74.3% during the second 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 in the last quarter. Ensign Peak Advisors Inc lifted its holdings in Globus Medical by 0.3% in the second quarter. Ensign Peak Advisors Inc now owns 68,468 shares of the medical device company’s stock worth $4,041,000 after purchasing an additional 230 shares during the period. Finally, F m Investments LLC grew its position in Globus Medical by 1.8% in the 2nd quarter. F m Investments LLC now owns 14,245 shares of the medical device company’s stock valued at $841,000 after buying an additional 254 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Stock Up 0.4%

Shares of NYSE GMED opened at $92.90 on Tuesday. Globus Medical, Inc. has a 12 month low of $51.79 and a 12 month high of $101.40. The company 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. The business has a fifty day simple moving average of $89.49 and a 200-day simple moving average of $70.70.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data 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. Globus Medical had a return on equity of 11.52% and a net margin of 15.30%.The firm had revenue of $769.05 million for the quarter, compared to the consensus estimate of $734.58 million. During the same quarter in the previous year, the company earned $0.83 EPS. The business’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. As a group, sell-side analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Insider Transactions at Globus Medical

In other news, CFO Kyle Kline sold 18,542 shares of the 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 at this hyperlink. Also, SVP Kelly Huller sold 7,500 shares of Globus Medical stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $90.00, for a total value of $675,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 91,636 shares of company stock worth $7,984,583. 18.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GMED. Stifel Nicolaus initiated coverage on shares of Globus Medical in a research note on Tuesday, October 28th. They issued a “hold” rating and a $64.00 price target for the company. Barclays upped their target price on Globus Medical from $106.00 to $114.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. TD Cowen initiated coverage on Globus Medical in a research report on Monday. They set a “buy” rating and a $110.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Globus Medical in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada raised their target price on Globus Medical from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.00.

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.