Vanguard Group Inc. Sells 56,292 Shares of Globus Medical, Inc. $GMED

Vanguard Group Inc. lowered its position in shares of Globus Medical, Inc. (NYSE:GMED) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,549,455 shares of the medical device company’s stock after selling 56,292 shares during the period. Vanguard Group Inc. owned approximately 0.08% of Globus Medical worth $921,073,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Globus Medical by 2.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,316 shares of the medical device company’s stock valued at $375,000 after acquiring an additional 170 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Globus Medical by 45.1% during the third 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 in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Globus Medical by 74.3% during the second 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 in the last quarter. Probity Advisors Inc. increased its position in shares of Globus Medical by 5.5% during the third 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 in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Globus Medical by 33.4% during the third 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 in the last quarter. Institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Truist Financial set a $115.00 target price on shares of Globus Medical in a report on Wednesday, February 25th. Wall Street Zen upgraded shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. TD Cowen upgraded shares of Globus Medical to a “strong-buy” rating in a report on Tuesday, January 27th. Canaccord Genuity Group raised their target price on shares of Globus Medical from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Finally, Piper Sandler restated an “overweight” rating and issued a $115.00 target price (up from $90.00) on shares of Globus Medical in a report on Thursday, January 8th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $104.36.

Insider Transactions at Globus Medical

In other news, EVP Kelly Huller sold 20,000 shares of the business’s stock in a transaction dated 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 18.51% of the company’s stock.

Globus Medical Stock Performance

GMED opened at $91.29 on Friday. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week high of $101.40. The firm’s fifty day moving average is $90.09 and its 200 day moving average is $85.84. The stock has a market cap of $12.35 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth 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, beating analysts’ consensus estimates of $1.06 by $0.22. The company had revenue of $826.42 million for 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%. Globus Medical’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 EPS. On average, equities research analysts predict that Globus Medical, Inc. will post 4.46 earnings per share for the current year.

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.