Horizon Investments LLC Makes New $5.75 Million Investment in Globus Medical, Inc. $GMED

Horizon Investments LLC bought a new position in shares of Globus Medical, Inc. (NYSE:GMED) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 65,881 shares of the medical device company’s stock, valued at approximately $5,752,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Globus Medical by 2.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,316 shares of the medical device company’s stock valued at $375,000 after buying an additional 170 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Globus Medical by 45.1% during the 3rd 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. EverSource Wealth Advisors LLC boosted its position in shares of Globus Medical by 74.3% during the 2nd 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. Probity Advisors Inc. boosted its position in shares of Globus Medical by 5.5% during the 3rd quarter. Probity Advisors Inc. now owns 3,792 shares of the medical device company’s stock valued at $217,000 after acquiring an additional 199 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Globus Medical by 33.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 999 shares of the medical device company’s stock valued at $57,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Performance

GMED stock opened at $91.29 on Monday. The company’s 50 day moving average price is $90.09 and its 200 day moving average price is $86.03. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week high of $101.40. The firm has a market capitalization of $12.35 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.13 and a beta of 1.00.

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, topping analysts’ consensus estimates of $1.06 by $0.22. Globus Medical had a net margin of 18.30% and a return on equity of 12.57%. The firm had revenue of $826.42 million for the quarter, compared to analyst estimates of $803.29 million. During the same period in the prior year, the firm earned $0.84 earnings per share. The business’s quarterly revenue was up 25.7% compared to the same quarter last year. Equities analysts forecast that Globus Medical, Inc. will post 4.46 EPS for the current fiscal year.

Insider Buying and Selling at Globus Medical

In related news, EVP Kelly Huller sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $94.50, for a total transaction of $1,890,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 18.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GMED. Truist Financial set a $115.00 price target on shares of Globus Medical in a research report on Wednesday, February 25th. Citigroup reissued a “market perform” rating on shares of Globus Medical in a research report on Thursday, January 8th. TD Cowen raised shares of Globus Medical to a “strong-buy” rating in a research report on Tuesday, January 27th. Canaccord Genuity Group boosted their price target on shares of Globus Medical from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Finally, Wells Fargo & Company raised shares of Globus Medical to a “strong-buy” rating in a research report on Wednesday, March 18th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and a consensus target price of $104.36.

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.