Banco Bilbao Vizcaya Argentaria S.A. Purchases 7,711 Shares of Globus Medical, Inc. $GMED

Banco Bilbao Vizcaya Argentaria S.A. increased its position in shares of Globus Medical, Inc. (NYSE:GMED) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 117,690 shares of the medical device company’s stock after purchasing an additional 7,711 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. owned about 0.09% of Globus Medical worth $6,946,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. increased its holdings in Globus Medical by 331.9% in the 1st quarter. Invesco Ltd. now owns 2,021,156 shares of the medical device company’s stock valued at $147,949,000 after buying an additional 1,553,154 shares during the period. Nuveen LLC acquired a new stake in shares of Globus Medical during the 1st quarter valued at about $54,669,000. Global Alpha Capital Management Ltd. boosted its position in shares of Globus Medical by 49.1% during the 2nd quarter. Global Alpha Capital Management Ltd. now owns 1,055,091 shares of the medical device company’s stock valued at $62,271,000 after acquiring an additional 347,400 shares in the last quarter. Driehaus Capital Management LLC increased its stake in Globus Medical by 60.1% in the first quarter. Driehaus Capital Management LLC now owns 873,784 shares of the medical device company’s stock valued at $63,961,000 after acquiring an additional 328,040 shares during the period. Finally, Fiera Capital Corp acquired a new position in Globus Medical in the first quarter worth about $19,514,000. 95.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GMED shares. Zacks Research raised Globus Medical from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Monday, July 21st. Canaccord Genuity Group lowered their price target on Globus Medical from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 22nd. Royal Bank Of Canada lifted their price objective on Globus Medical from $88.00 to $92.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, Wells Fargo & Company upped their target price on shares of Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.82.

Globus Medical Stock Performance

Shares of GMED opened at $84.34 on Friday. The stock has a fifty day moving average price of $62.30 and a two-hundred day moving average price of $60.37. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $94.93. The company has a market cap of $11.39 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 1.68 and a beta of 1.15.

Globus Medical (NYSE:GMED) last announced its earnings results on Thursday, November 6th. The medical device company reported $1.18 EPS for the quarter, topping the consensus estimate of $0.79 by $0.39. Globus Medical had a return on equity of 10.65% and a net margin of 13.58%.The company had revenue of $769.05 million for the quarter, compared to analysts’ expectations of $734.58 million. During the same quarter in the prior year, the business earned $0.83 earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. As a group, research analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling at Globus Medical

In other news, Director David D. Davidar sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $86.00, for a total transaction of $2,150,000.00. Following the sale, the director directly owned 516,275 shares of the company’s stock, valued at $44,399,650. This represents a 4.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 70,000 shares of company stock worth $5,659,850. 18.51% of the stock is currently owned by corporate insiders.

About Globus Medical

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.