Y Intercept Hong Kong Ltd Cuts Position in Globus Medical, Inc. $GMED

Y Intercept Hong Kong Ltd cut its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 55.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 61,455 shares of the medical device company’s stock after selling 75,055 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Globus Medical were worth $3,520,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GMED. Boston Trust Walden Corp acquired a new position in Globus Medical during the third quarter worth about $67,891,000. Norges Bank purchased a new stake in shares of Globus Medical during the 2nd quarter worth approximately $68,038,000. Marshall Wace LLP grew its holdings in shares of Globus Medical by 89.7% in the 2nd quarter. Marshall Wace LLP now owns 1,580,476 shares of the medical device company’s stock worth $93,280,000 after acquiring an additional 747,330 shares during the period. Burgundy Asset Management Ltd. increased its stake in Globus Medical by 24.3% in the 2nd 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 raised its holdings in Globus Medical by 31.9% during the second quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company’s stock worth $162,936,000 after purchasing an additional 667,850 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Activity

In other news, Director Stephen T. Zarrilli sold 25,000 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $84.29, for a total transaction of $2,107,250.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kyle Kline sold 18,542 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $90.00, for a total transaction of $1,668,780.00. The SEC filing for this sale provides additional information. Insiders sold a total of 91,636 shares of company stock valued at $7,984,583 in the last three months. Company insiders own 18.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Zacks Research lowered Globus Medical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Stifel Nicolaus initiated coverage on shares of Globus Medical in a research report on Tuesday, October 28th. They issued a “hold” rating and a $64.00 price objective on the stock. Canaccord Genuity Group raised their target price on shares of Globus Medical from $105.00 to $112.00 and gave the company a “buy” rating in a report on Friday, January 9th. TD Cowen started coverage on shares of Globus Medical in a report on Monday. They issued a “buy” rating and a $110.00 price target on the stock. Finally, Barclays increased their price target on shares of Globus Medical from $106.00 to $114.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Globus Medical Stock Performance

Shares of NYSE GMED opened at $92.90 on Tuesday. The firm has a market cap of $12.43 billion, a P/E ratio of 29.97, a price-to-earnings-growth ratio of 1.37 and a beta of 1.06. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $101.40. The firm’s 50 day moving average price is $89.49 and its 200 day moving average price is $70.70.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Thursday, November 6th. The medical device company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.39. The company had revenue of $769.05 million for 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%.The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.83 EPS. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. As a group, equities analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current year.

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.