Handelsbanken Fonder AB Buys 10,000 Shares of Globus Medical, Inc. $GMED

Handelsbanken Fonder AB raised its stake in Globus Medical, Inc. (NYSE:GMED) by 29.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,897 shares of the medical device company’s stock after acquiring an additional 10,000 shares during the period. Handelsbanken Fonder AB’s holdings in Globus Medical were worth $2,514,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Globus Medical by 2.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,316 shares of the medical device company’s stock worth $375,000 after purchasing an additional 170 shares during the period. GAMMA Investing LLC lifted its position in Globus Medical by 14.7% during the third quarter. GAMMA Investing LLC now owns 1,438 shares of the medical device company’s stock worth $82,000 after purchasing an additional 184 shares during the period. EverSource Wealth Advisors LLC grew its stake in Globus Medical by 74.3% during the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after buying an additional 197 shares in the last quarter. Probity Advisors Inc. increased its holdings in Globus Medical by 5.5% in the 3rd quarter. Probity Advisors Inc. now owns 3,792 shares of the medical device company’s stock valued at $217,000 after buying an additional 199 shares during the period. Finally, Ensign Peak Advisors Inc raised its position in shares of Globus Medical by 0.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 68,468 shares of the medical device company’s stock valued at $4,041,000 after buying an additional 230 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on GMED. Zacks Research lowered shares of Globus Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Needham & Company LLC upped their target price on Globus Medical from $112.00 to $114.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. BTIG Research reiterated a “neutral” rating on shares of Globus Medical in a research note on Tuesday, December 30th. Bank of America raised Globus Medical from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $91.00 in a report on Friday, November 7th. Finally, Royal Bank Of Canada raised their price objective on Globus Medical from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $104.36.

Globus Medical Stock Performance

Shares of NYSE:GMED opened at $91.72 on Wednesday. The company has a fifty day moving average of $90.83 and a 200-day moving average of $77.03. The company has a market capitalization of $12.28 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $101.40.

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

Insider Transactions at Globus Medical

In other news, CFO Kyle Kline sold 3,594 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $101.10, for a total value of $363,353.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Leslie V. Norwalk sold 2,000 shares of Globus Medical stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $101.10, for a total transaction of $202,200.00. Following the sale, the director owned 10,419 shares in the company, valued at approximately $1,053,360.90. This represents a 16.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 35,594 shares of company stock worth $3,332,253. Insiders own 18.54% of the company’s stock.

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.