M&T Bank Corp Acquires 16,827 Shares of Globus Medical, Inc. $GMED

M&T Bank Corp grew its holdings in Globus Medical, Inc. (NYSE:GMED) by 389.0% in the fourth quarter, Holdings Channel reports. The firm owned 21,153 shares of the medical device company’s stock after buying an additional 16,827 shares during the quarter. M&T Bank Corp’s holdings in Globus Medical were worth $1,847,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GMED. William Blair Investment Management LLC boosted its stake in shares of Globus Medical by 17.2% in the 3rd quarter. William Blair Investment Management LLC now owns 2,819,165 shares of the medical device company’s stock worth $161,454,000 after buying an additional 414,134 shares during the last quarter. ANTIPODES PARTNERS Ltd boosted its stake in shares of Globus Medical by 49,020.3% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 891,043 shares of the medical device company’s stock worth $51,034,000 after buying an additional 889,229 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Globus Medical by 189.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 476,531 shares of the medical device company’s stock worth $27,953,000 after buying an additional 312,149 shares during the last quarter. Foresight Group Ltd Liability Partnership boosted its stake in shares of Globus Medical by 160.7% in the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 421,541 shares of the medical device company’s stock worth $24,142,000 after buying an additional 259,870 shares during the last quarter. Finally, Paradice Investment Management LLC boosted its stake in shares of Globus Medical by 20.9% in the 3rd quarter. Paradice Investment Management LLC now owns 663,038 shares of the medical device company’s stock worth $37,972,000 after buying an additional 114,433 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Analyst Ratings Changes

GMED has been the topic of a number of research reports. BTIG Research restated a “neutral” rating on shares of Globus Medical in a research note on Tuesday, December 30th. Barclays raised their price target on Globus Medical from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Wells Fargo & Company upgraded Globus Medical to a “strong-buy” rating in a research note on Wednesday, March 18th. Citigroup restated a “market perform” rating on shares of Globus Medical in a research note on Thursday, January 8th. Finally, TD Cowen upgraded Globus Medical to a “strong-buy” rating in a research note on Tuesday, January 27th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $104.36.

Globus Medical Stock Performance

NYSE GMED opened at $90.66 on Wednesday. The company has a market capitalization of $12.26 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 2.19 and a beta of 1.09. The business’s fifty day moving average is $90.15 and its 200 day moving average is $85.59. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week high of $101.40.

Globus Medical (NYSE:GMED) last released its earnings results on Tuesday, February 24th. The medical device company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.22. The company had revenue of $826.42 million for the quarter, compared to the consensus estimate of $803.29 million. Globus Medical had a return on equity of 12.57% and a net margin of 18.30%.Globus Medical’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 earnings per share. On average, sell-side analysts forecast that Globus Medical, Inc. will post 4.46 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Kelly Huller sold 20,000 shares of Globus Medical stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total transaction of $1,890,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 18.54% of the company’s stock.

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.