Fisher Asset Management LLC Has $17 Million Stock Position in Globus Medical, Inc. $GMED

Fisher Asset Management LLC lessened its stake in Globus Medical, Inc. (NYSE:GMED) by 12.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 288,073 shares of the medical device company’s stock after selling 42,835 shares during the quarter. Fisher Asset Management LLC owned 0.21% of Globus Medical worth $17,002,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Advisors Asset Management Inc. acquired a new position in Globus Medical in the 2nd quarter worth $28,000. CENTRAL TRUST Co bought a new stake in shares of Globus Medical in the second quarter valued at about $39,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Globus Medical by 202.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 572 shares of the medical device company’s stock worth $42,000 after buying an additional 383 shares during the period. Signaturefd LLC grew its holdings in shares of Globus Medical by 41.1% during the second quarter. Signaturefd LLC now owns 958 shares of the medical device company’s stock worth $57,000 after buying an additional 279 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in Globus Medical by 237.3% in the 1st quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock valued at $62,000 after buying an additional 598 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

GMED has been the subject of a number of recent research reports. Wells Fargo & Company upped their price target on Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. 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 report on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Globus Medical in a research note on Wednesday, October 8th. Bank of America upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $65.00 to $91.00 in a research note on Friday, November 7th. Finally, Barclays lifted their target price on Globus Medical from $106.00 to $114.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. One investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.82.

Globus Medical Price Performance

Shares of GMED stock opened at $87.77 on Thursday. The company has a fifty day moving average price of $70.08 and a two-hundred day moving average price of $62.38. Globus Medical, Inc. has a one year low of $51.79 and a one year high of $94.93. The stock has a market cap of $11.75 billion, a P/E ratio of 28.31, a P/E/G ratio of 1.66 and a beta of 1.07.

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

Insider Buying and Selling

In other news, Director Stephen T. Zarrilli sold 25,000 shares of Globus Medical 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kyle Kline sold 18,542 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $90.00, for a total value of $1,668,780.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 96,042 shares of company stock valued at $8,003,630. Insiders own 18.51% of the company’s stock.

Globus Medical Company Profile

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.