Oppenheimer Asset Management Inc. Decreases Stock Position in Globus Medical, Inc. $GMED

Oppenheimer Asset Management Inc. cut its holdings in Globus Medical, Inc. (NYSE:GMED) by 23.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,313 shares of the medical device company’s stock after selling 6,193 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Globus Medical were worth $1,774,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. William Blair Investment Management LLC grew 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 purchasing an additional 414,134 shares during the last quarter. ANTIPODES PARTNERS Ltd grew 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 purchasing an additional 889,229 shares during the last quarter. Foresight Group Ltd Liability Partnership grew 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 purchasing an additional 259,870 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Globus Medical in the 3rd quarter worth approximately $539,000. Finally, Kingdon Capital Management L.L.C. grew its stake in shares of Globus Medical by 51.6% in the 3rd quarter. Kingdon Capital Management L.L.C. now owns 257,650 shares of the medical device company’s stock worth $14,756,000 after purchasing an additional 87,650 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Globus Medical Stock Performance

GMED stock opened at $90.52 on Tuesday. The stock has a market cap of $12.24 billion, a P/E ratio of 22.97, a P/E/G ratio of 2.13 and a beta of 1.00. The firm has a 50 day simple moving average of $90.09 and a 200 day simple moving average of $86.03. Globus Medical, Inc. has a 52 week low of $51.79 and a 52 week high of $101.40.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GMED shares. Piper Sandler reaffirmed an “overweight” rating and issued a $115.00 price objective (up from $90.00) on shares of Globus Medical in a research note on Thursday, January 8th. Truist Financial set a $115.00 target price on shares of Globus Medical in a research report on Wednesday, February 25th. Needham & Company LLC lifted their target price on shares of Globus Medical from $112.00 to $114.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. TD Cowen raised shares of Globus Medical to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, Canaccord Genuity Group lifted their target price on shares of Globus Medical from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $104.36.

Insider Activity at Globus Medical

In other Globus Medical news, EVP Kelly Huller sold 20,000 shares of Globus Medical stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $94.50, for a total value of $1,890,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 18.51% of the company’s stock.

About Globus Medical

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.