Globus Medical, Inc. $GMED Stock Position Lifted by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey lifted its position in Globus Medical, Inc. (NYSE:GMED) by 4.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,439 shares of the medical device company’s stock after acquiring an additional 1,699 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Globus Medical were worth $2,505,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in Globus Medical by 1,007.7% in the first quarter. Larson Financial Group LLC now owns 432 shares of the medical device company’s stock worth $32,000 after purchasing an additional 393 shares during the period. CENTRAL TRUST Co acquired a new position in shares of Globus Medical in the 2nd quarter valued at about $39,000. Caitong International Asset Management Co. Ltd grew its position in shares of Globus Medical by 202.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 572 shares of the medical device company’s stock valued at $42,000 after buying an additional 383 shares during the last quarter. Signaturefd LLC raised its stake in Globus Medical by 41.1% during the second quarter. Signaturefd LLC now owns 958 shares of the medical device company’s stock worth $57,000 after acquiring an additional 279 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in Globus Medical by 237.3% during the first quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock worth $62,000 after acquiring an additional 598 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Stock Performance

NYSE:GMED opened at $83.39 on Wednesday. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of 32.07, a PEG ratio of 1.68 and a beta of 1.15. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $94.93. The business has a fifty day moving average of $63.27 and a 200-day moving average of $60.46.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Thursday, November 6th. The medical device company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.39. The business had revenue of $769.05 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.83 earnings per share. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. On average, equities research analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current year.

Analyst Upgrades and Downgrades

GMED has been the topic of a number of research reports. Stifel Nicolaus initiated coverage on Globus Medical in a research report on Tuesday, October 28th. They set a “hold” rating and a $64.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Globus Medical in a research report on Wednesday, October 8th. Wall Street Zen upgraded Globus Medical from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Wells Fargo & Company upped their price target on shares of Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Canaccord Genuity Group dropped their price objective on shares of Globus Medical from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Globus Medical has a consensus rating of “Moderate Buy” and a consensus price target of $89.91.

Insider Transactions at Globus Medical

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $86.00, for a total value of $2,150,000.00. Following the completion of the sale, the director directly owned 516,275 shares in the company, valued at $44,399,650. This represents a 4.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ann D. Rhoads sold 2,000 shares of Globus Medical stock in a transaction on Monday, November 10th. The shares were sold at an average price of $85.00, for a total value of $170,000.00. Following the transaction, the director owned 15,384 shares in the company, valued at approximately $1,307,640. This trade represents a 11.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 70,000 shares of company stock valued at $5,659,850. Company insiders own 18.51% of the company’s stock.

About Globus Medical

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.