Globus Medical, Inc. $GMED Shares Purchased by Foresight Group Ltd Liability Partnership

Foresight Group Ltd Liability Partnership raised its holdings in Globus Medical, Inc. (NYSE:GMED) by 160.7% during the third quarter, HoldingsChannel.com reports. The firm owned 421,541 shares of the medical device company’s stock after buying an additional 259,870 shares during the period. Globus Medical makes up about 3.6% of Foresight Group Ltd Liability Partnership’s portfolio, making the stock its 12th biggest holding. Foresight Group Ltd Liability Partnership’s holdings in Globus Medical were worth $24,142,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alps Advisors Inc. grew its position in shares of Globus Medical by 60.6% during the third quarter. Alps Advisors Inc. now owns 22,361 shares of the medical device company’s stock worth $1,281,000 after buying an additional 8,440 shares in the last quarter. Old West Investment Management LLC boosted its stake in Globus Medical by 3.0% during the 3rd quarter. Old West Investment Management LLC now owns 99,124 shares of the medical device company’s stock valued at $5,677,000 after acquiring an additional 2,872 shares during the last quarter. Bessemer Group Inc. grew its holdings in Globus Medical by 26.7% during the 3rd quarter. Bessemer Group Inc. now owns 30,357 shares of the medical device company’s stock worth $1,739,000 after acquiring an additional 6,400 shares in the last quarter. Optimize Financial Inc bought a new stake in shares of Globus Medical in the 3rd quarter worth about $401,000. Finally, Van Berkom & Associates Inc. raised its stake in shares of Globus Medical by 3.8% in the 3rd quarter. Van Berkom & Associates Inc. now owns 1,333,111 shares of the medical device company’s stock valued at $76,347,000 after purchasing an additional 48,906 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on GMED. Barclays lifted their price target on Globus Medical from $106.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. TD Cowen upgraded Globus Medical to a “strong-buy” rating in a research report on Tuesday, January 27th. Stifel Nicolaus began coverage on Globus Medical in a report on Tuesday, October 28th. They issued a “hold” rating and a $64.00 price target for the company. 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 research note on Wednesday, December 17th. Finally, Morgan Stanley lifted their price objective on shares of Globus Medical from $70.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.18.

Insider Activity

In related news, CFO Kyle Kline sold 18,542 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $90.00, for a total value of $1,668,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David D. Davidar sold 25,000 shares of Globus Medical stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $86.00, for a total value of $2,150,000.00. Following the sale, the director directly owned 516,275 shares in the company, valued at $44,399,650. The trade was a 4.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 56,636 shares of company stock worth $5,059,333 in the last quarter. Company insiders own 18.54% of the company’s stock.

Globus Medical Stock Performance

GMED stock opened at $87.61 on Tuesday. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $101.40. The stock has a market capitalization of $11.73 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 1.35 and a beta of 1.06. The stock’s fifty day moving average is $89.78 and its two-hundred day moving average is $73.08.

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.