GW&K Investment Management LLC Sells 72,271 Shares of Globus Medical, Inc. $GMED

GW&K Investment Management LLC lowered its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 3.9% in the third quarter, Holdings Channel.com reports. The firm owned 1,777,431 shares of the medical device company’s stock after selling 72,271 shares during the period. Globus Medical comprises approximately 0.9% of GW&K Investment Management LLC’s investment portfolio, making the stock its 17th biggest holding. GW&K Investment Management LLC’s holdings in Globus Medical were worth $101,793,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GMED. Boston Trust Walden Corp bought a new position in shares of Globus Medical in the third quarter valued at approximately $67,891,000. Norges Bank bought a new stake in Globus Medical during the second quarter worth $68,038,000. ANTIPODES PARTNERS Ltd grew its holdings in Globus Medical by 49,020.3% during the third quarter. ANTIPODES PARTNERS Ltd now owns 891,043 shares of the medical device company’s stock worth $51,034,000 after buying an additional 889,229 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Globus Medical by 72.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,011,104 shares of the medical device company’s stock valued at $115,166,000 after buying an additional 842,547 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Globus Medical by 89.7% in the 2nd quarter. Marshall Wace LLP now owns 1,580,476 shares of the medical device company’s stock valued at $93,280,000 after buying an additional 747,330 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Globus Medical Stock Performance

Shares of NYSE:GMED opened at $90.39 on Thursday. The company has a market capitalization of $12.10 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. The company’s 50-day moving average is $90.87 and its 200 day moving average is $77.12. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week high of $101.40.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. 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. Zacks Research lowered shares of Globus Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Barclays boosted their price target on shares of Globus Medical from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Royal Bank Of Canada increased their price objective on shares of Globus Medical from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Finally, BTIG Research reissued a “neutral” rating on shares of Globus Medical in a research report on Tuesday, December 30th. One 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 stock. Based on data from MarketBeat, Globus Medical has an average rating of “Moderate Buy” and a consensus target price of $104.36.

Insider Transactions at Globus Medical

In other Globus Medical news, Director Leslie V. Norwalk sold 2,000 shares of the stock in a transaction 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 completion of the transaction, the director directly owned 10,419 shares of the company’s stock, valued at approximately $1,053,360.90. This represents a 16.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kyle Kline sold 3,594 shares of the firm’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 SEC filing for this sale provides additional information. Insiders sold a total of 35,594 shares of company stock worth $3,332,253 in the last quarter. Insiders own 18.51% 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.