Envestnet Asset Management Inc. Has $18.65 Million Holdings in Globus Medical, Inc. $GMED

Envestnet Asset Management Inc. trimmed its position in Globus Medical, Inc. (NYSE:GMED) by 1.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 325,714 shares of the medical device company’s stock after selling 5,911 shares during the period. Envestnet Asset Management Inc. owned about 0.24% of Globus Medical worth $18,654,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Van Berkom & Associates Inc. lifted its holdings in shares of Globus Medical by 3.8% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,333,111 shares of the medical device company’s stock valued at $76,347,000 after purchasing an additional 48,906 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Globus Medical during the 3rd quarter worth approximately $84,000. Jones Financial Companies Lllp lifted its stake in Globus Medical by 26.2% in the third quarter. Jones Financial Companies Lllp now owns 2,633 shares of the medical device company’s stock valued at $147,000 after buying an additional 547 shares in the last quarter. UMB Bank n.a. lifted its stake in Globus Medical by 66.2% in the third quarter. UMB Bank n.a. now owns 1,228 shares of the medical device company’s stock valued at $70,000 after buying an additional 489 shares in the last quarter. Finally, AlphaQuest LLC boosted its holdings in shares of Globus Medical by 131.4% in the third quarter. AlphaQuest LLC now owns 13,622 shares of the medical device company’s stock valued at $780,000 after buying an additional 7,734 shares during the period. Institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling at Globus Medical

In related news, Director Leslie V. Norwalk sold 2,000 shares of the stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $101.10, for a total transaction of $202,200.00. Following the completion of the transaction, 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kyle Kline sold 3,594 shares of Globus Medical stock in a transaction dated 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. Over the last ninety days, insiders sold 31,636 shares of company stock valued at $2,909,333. Corporate insiders own 18.51% of the company’s stock.

Globus Medical Trading Up 0.9%

NYSE GMED opened at $88.05 on Friday. The company has a market cap of $11.78 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 1.35 and a beta of 1.06. The company has a 50 day moving average of $89.68 and a 200-day moving average of $73.90. Globus Medical, Inc. has a 1-year low of $51.79 and a 1-year high of $101.40.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GMED shares. Citigroup reiterated a “market perform” rating on shares of Globus Medical in a report on Thursday, January 8th. BTIG Research reaffirmed a “neutral” rating on shares of Globus Medical in a research report on Tuesday, December 30th. Stifel Nicolaus started coverage on shares of Globus Medical in a research note on Tuesday, October 28th. They issued a “hold” rating and a $64.00 price target on the stock. Barclays increased their price objective on shares of Globus Medical from $106.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Finally, Needham & Company LLC upgraded Globus Medical from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.18.

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.