Blueshift Asset Management LLC Takes Position in Globus Medical, Inc. $GMED

Blueshift Asset Management LLC bought a new stake in Globus Medical, Inc. (NYSE:GMED) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,740 shares of the medical device company’s stock, valued at approximately $516,000.

Several other large investors have also recently bought and sold shares of GMED. Ensign Peak Advisors Inc grew its stake in Globus Medical by 0.3% in the second quarter. Ensign Peak Advisors Inc now owns 68,468 shares of the medical device company’s stock valued at $4,041,000 after purchasing an additional 230 shares in the last quarter. F m Investments LLC boosted its holdings in shares of Globus Medical by 1.8% in the 2nd quarter. F m Investments LLC now owns 14,245 shares of the medical device company’s stock valued at $841,000 after buying an additional 254 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Globus Medical by 41.1% in the 2nd quarter. Signaturefd LLC now owns 958 shares of the medical device company’s stock valued at $57,000 after buying an additional 279 shares during the last quarter. Johnson Investment Counsel Inc. grew its stake in shares of Globus Medical by 9.1% in the second quarter. Johnson Investment Counsel Inc. now owns 3,645 shares of the medical device company’s stock valued at $215,000 after buying an additional 304 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in Globus Medical by 0.9% during the second quarter. State of New Jersey Common Pension Fund D now owns 38,092 shares of the medical device company’s stock worth $2,248,000 after buying an additional 324 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Stock Down 0.9%

Shares of GMED stock opened at $89.00 on Wednesday. The firm has a 50 day moving average price of $69.43 and a two-hundred day moving average price of $62.20. The company has a market capitalization of $11.91 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $94.93.

Globus Medical (NYSE:GMED) last posted its earnings results on Thursday, November 6th. The medical device company reported $1.18 EPS for the quarter, beating the consensus estimate of $0.79 by $0.39. The company had revenue of $769.05 million for the quarter, compared to the consensus estimate of $734.58 million. Globus Medical had a return on equity of 11.52% and a net margin of 15.30%.The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 earnings per share. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. As a group, research analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Globus Medical in a research note on Wednesday, October 8th. Royal Bank Of Canada raised their target price on shares of Globus Medical from $88.00 to $92.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Morgan Stanley lifted their price target on Globus Medical from $70.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday. Stifel Nicolaus started coverage on Globus Medical in a research note on Tuesday, October 28th. They issued a “hold” rating and a $64.00 price objective on the stock. Finally, Truist Financial reaffirmed a “buy” rating and issued a $105.00 price objective (up from $93.00) on shares of Globus Medical in a research report on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.82.

Insider Transactions at Globus Medical

In other Globus Medical news, Director Ann D. Rhoads sold 2,000 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $85.00, for a total value of $170,000.00. Following the completion of the sale, the director owned 15,384 shares of the company’s stock, valued at $1,307,640. The trade was a 11.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kelly Huller sold 7,500 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $90.00, for a total transaction of $675,000.00. The SEC filing for this sale provides additional information. Insiders sold a total of 77,500 shares of company stock worth $6,334,850 over the last ninety days. Corporate insiders own 18.54% of the company’s stock.

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.