Globus Medical, Inc. $GMED Shares Purchased by William Blair Investment Management LLC

William Blair Investment Management LLC raised its stake in Globus Medical, Inc. (NYSE:GMED) by 17.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,819,165 shares of the medical device company’s stock after acquiring an additional 414,134 shares during the period. William Blair Investment Management LLC owned 2.09% of Globus Medical worth $161,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in GMED. Burgundy Asset Management Ltd. increased its position in Globus Medical by 24.3% during the second quarter. Burgundy Asset Management Ltd. now owns 3,481,438 shares of the medical device company’s stock worth $205,474,000 after buying an additional 679,691 shares during the period. Sculptor Capital LP raised its position in Globus Medical by 31.9% in the 2nd quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company’s stock valued at $162,936,000 after purchasing an additional 667,850 shares during the last quarter. Geneva Capital Management LLC boosted its stake in Globus Medical by 13.6% during the 2nd quarter. Geneva Capital Management LLC now owns 2,082,788 shares of the medical device company’s stock worth $122,926,000 after purchasing an additional 249,141 shares during the period. Marshall Wace LLP grew its position in Globus Medical by 89.7% during the 2nd quarter. Marshall Wace LLP now owns 1,580,476 shares of the medical device company’s stock worth $93,280,000 after purchasing an additional 747,330 shares during the last quarter. Finally, AXA S.A. increased its stake in Globus Medical by 9.0% in the second quarter. AXA S.A. now owns 1,528,531 shares of the medical device company’s stock valued at $90,214,000 after purchasing an additional 126,326 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on GMED. Bank of America raised Globus Medical from a “neutral” rating to a “buy” rating and raised their price target for the stock from $65.00 to $91.00 in a report on Friday, November 7th. Zacks Research downgraded Globus Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Truist Financial set a $115.00 price target on Globus Medical in a research note on Wednesday. Needham & Company LLC lifted their price objective on shares of Globus Medical from $112.00 to $114.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, TD Cowen upgraded shares of Globus Medical to a “strong-buy” rating in a research note on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Globus Medical currently has an average rating of “Moderate Buy” and a consensus target price of $104.36.

Insider Buying and Selling at Globus Medical

In other news, CFO Kyle Kline sold 3,594 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $101.10, for a total value of $363,353.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kelly Huller sold 20,000 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $94.50, for a total value of $1,890,000.00. The SEC filing for this sale provides additional information. Insiders have sold 54,136 shares of company stock valued at $5,001,033 over the last quarter. Corporate insiders own 18.51% of the company’s stock.

Globus Medical Stock Performance

GMED opened at $95.39 on Friday. The company has a market cap of $12.77 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 2.21 and a beta of 1.06. Globus Medical, Inc. has a one year low of $51.79 and a one year high of $101.40. The business’s fifty day moving average is $90.69 and its two-hundred day moving average is $76.48.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Tuesday, February 24th. The medical device company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.22. Globus Medical had a return on equity of 12.57% and a net margin of 18.30%.The business had revenue of $826.42 million during the quarter, compared to the consensus estimate of $803.29 million. During the same quarter in the previous year, the company posted $0.84 EPS. The business’s revenue was up 25.7% on a year-over-year basis. On average, analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Globus Medical Company 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.