Janus Henderson Group PLC Sells 246,433 Shares of Globus Medical, Inc. (NYSE:GMED)

Janus Henderson Group PLC lowered its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 3.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 7,662,395 shares of the medical device company’s stock after selling 246,433 shares during the period. Janus Henderson Group PLC owned 5.66% of Globus Medical worth $411,011,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Globus Medical by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 11,277,722 shares of the medical device company’s stock valued at $600,990,000 after purchasing an additional 32,220 shares during the period. Bank of New York Mellon Corp raised its holdings in Globus Medical by 3.8% in the 1st quarter. Bank of New York Mellon Corp now owns 3,016,702 shares of the medical device company’s stock valued at $161,816,000 after acquiring an additional 110,912 shares during the period. Wellington Management Group LLP lifted its position in Globus Medical by 9.5% during the fourth quarter. Wellington Management Group LLP now owns 2,912,454 shares of the medical device company’s stock worth $155,205,000 after acquiring an additional 252,510 shares during the last quarter. Champlain Investment Partners LLC boosted its holdings in shares of Globus Medical by 25.2% during the first quarter. Champlain Investment Partners LLC now owns 2,504,383 shares of the medical device company’s stock worth $134,335,000 after acquiring an additional 503,745 shares during the period. Finally, Burgundy Asset Management Ltd. boosted its holdings in shares of Globus Medical by 46.1% during the first quarter. Burgundy Asset Management Ltd. now owns 2,479,837 shares of the medical device company’s stock worth $133,018,000 after acquiring an additional 782,285 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Transactions at Globus Medical

In other Globus Medical news, Director David D. Davidar sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $65.00, for a total value of $1,300,000.00. Following the sale, the director now owns 566,275 shares in the company, valued at approximately $36,807,875. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Leslie V. Norwalk sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. Following the completion of the sale, the director now owns 16,419 shares in the company, valued at $1,149,330. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David D. Davidar sold 20,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $65.00, for a total value of $1,300,000.00. Following the completion of the transaction, the director now owns 566,275 shares in the company, valued at $36,807,875. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,300 shares of company stock worth $5,459,813. Company insiders own 18.54% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GMED. Barclays lifted their price target on Globus Medical from $83.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research note on Wednesday, May 8th. Piper Sandler upgraded shares of Globus Medical from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $80.00 in a research note on Monday, May 20th. Truist Financial boosted their price objective on shares of Globus Medical from $63.00 to $78.00 and gave the company a “hold” rating in a report on Tuesday, July 16th. Finally, Stifel Nicolaus raised their target price on shares of Globus Medical from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and an average target price of $73.30.

Globus Medical Stock Down 0.8 %

Globus Medical stock traded down $0.58 during trading hours on Tuesday, hitting $71.00. The stock had a trading volume of 771,746 shares, compared to its average volume of 1,078,687. The business’s 50 day simple moving average is $68.33 and its 200-day simple moving average is $59.13. Globus Medical, Inc. has a one year low of $43.38 and a one year high of $74.16. The stock has a market cap of $9.61 billion, a price-to-earnings ratio of 111.85, a P/E/G ratio of 2.00 and a beta of 1.15.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Tuesday, May 7th. The medical device company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.17. Globus Medical had a net margin of 3.51% and a return on equity of 8.82%. The business had revenue of $606.67 million during the quarter, compared to analyst estimates of $586.82 million. During the same quarter last year, the business earned $0.53 EPS. The firm’s quarterly revenue was up 119.3% on a year-over-year basis. Research analysts anticipate that Globus Medical, Inc. will post 2.82 EPS for the current fiscal year.

Globus Medical 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.