Swedbank AB Increases Position in Globus Medical, Inc. $GMED

Swedbank AB lifted its holdings in Globus Medical, Inc. (NYSE:GMED) by 7.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 679,075 shares of the medical device company’s stock after buying an additional 50,000 shares during the quarter. Swedbank AB owned approximately 0.50% of Globus Medical worth $38,891,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in Globus Medical by 74.3% in the 2nd 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 during the last quarter. Advisors Asset Management Inc. bought a new position in shares of Globus Medical in the second quarter worth about $28,000. CENTRAL TRUST Co bought a new position in shares of Globus Medical in the second quarter worth about $39,000. Headlands Technologies LLC increased its stake in Globus Medical by 485.4% in the 2nd quarter. Headlands Technologies LLC now owns 761 shares of the medical device company’s stock worth $45,000 after buying an additional 631 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in Globus Medical by 237.3% during the 1st quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock valued at $62,000 after buying an additional 598 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GMED shares. Barclays upped their target price on shares of Globus Medical from $106.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Morgan Stanley increased their price objective on Globus Medical from $70.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Royal Bank Of Canada raised their price objective on Globus Medical from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Wall Street Zen cut Globus Medical from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Finally, Bank of America raised Globus Medical from a “neutral” rating to a “buy” rating and increased their price target for the stock from $65.00 to $91.00 in a research report on Friday, November 7th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.11.

Globus Medical Trading Down 0.4%

Shares of NYSE GMED opened at $88.43 on Friday. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $94.93. The stock’s fifty day simple moving average is $79.61 and its two-hundred day simple moving average is $65.52. The stock has a market capitalization of $11.84 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 1.63 and a beta of 1.07.

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, topping analysts’ consensus estimates of $0.79 by $0.39. Globus Medical had a return on equity of 11.52% and a net margin of 15.30%.The firm had revenue of $769.05 million during the quarter, compared to analysts’ expectations of $734.58 million. During the same period in the prior year, the business posted $0.83 EPS. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. On average, equities analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kyle Kline sold 18,542 shares of Globus Medical stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $90.00, for a total value of $1,668,780.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen T. Zarrilli sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $84.29, for a total transaction of $2,107,250.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 86,042 shares of company stock worth $7,419,030. Insiders own 18.51% of the company’s stock.

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.