Future Fund LLC Takes $987,000 Position in Globus Medical, Inc. $GMED

Future Fund LLC bought a new stake in shares of Globus Medical, Inc. (NYSE:GMED) during the second quarter, Holdings Channel reports. The institutional investor bought 16,729 shares of the medical device company’s stock, valued at approximately $987,000.

A number of other large investors have also bought and sold shares of the stock. Envestnet Asset Management Inc. increased its position in shares of Globus Medical by 49.5% during the first quarter. Envestnet Asset Management Inc. now owns 413,366 shares of the medical device company’s stock worth $30,258,000 after acquiring an additional 136,955 shares in the last quarter. Inspire Investing LLC bought a new stake in Globus Medical during the 1st quarter worth approximately $767,000. Foresight Group Ltd Liability Partnership bought a new stake in Globus Medical during the 1st quarter worth approximately $11,995,000. Amundi raised its stake in shares of Globus Medical by 642,750.0% in the first quarter. Amundi now owns 25,714 shares of the medical device company’s stock worth $1,852,000 after purchasing an additional 25,710 shares during the last quarter. Finally, Pinnacle Wealth Management LLC bought a new position in shares of Globus Medical in the first quarter valued at approximately $664,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Stock Performance

GMED stock opened at $83.99 on Friday. The stock has a fifty day moving average of $59.83 and a 200-day moving average of $59.94. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week high of $94.93. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 1.68 and a beta of 1.15.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, November 6th. The medical device company reported $1.18 EPS for the quarter, beating the consensus estimate of $0.79 by $0.39. The business had revenue of $769.05 million for the quarter, compared to the consensus estimate of $734.58 million. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. The company’s revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 earnings per share. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. Equities analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current year.

Insider Buying and Selling

In related news, Director Ann D. Rhoads sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $58.46, for a total value of $584,600.00. Following the completion of the transaction, the director directly owned 25,384 shares of the company’s stock, valued at approximately $1,483,948.64. This trade represents a 28.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 18.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GMED shares. Wells Fargo & Company upped their price target on Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday. Wall Street Zen upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley lowered their target price on shares of Globus Medical from $75.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, July 15th. Bank of America upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $91.00 in a report on Friday. Finally, Canaccord Genuity Group decreased their price objective on shares of Globus Medical from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 22nd. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.82.

Globus Medical Company Profile

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.