Rhumbline Advisers Sells 9,227 Shares of Globus Medical, Inc. $GMED

Rhumbline Advisers decreased its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 281,944 shares of the medical device company’s stock after selling 9,227 shares during the quarter. Rhumbline Advisers owned 0.21% of Globus Medical worth $16,147,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Burgundy Asset Management Ltd. grew its position in Globus Medical by 24.3% during the second quarter. Burgundy Asset Management Ltd. now owns 3,481,438 shares of the medical device company’s stock worth $205,474,000 after buying an additional 679,691 shares in the last quarter. Sculptor Capital LP grew its holdings in shares of Globus Medical by 31.9% during the 2nd quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company’s stock worth $162,936,000 after purchasing an additional 667,850 shares in the last quarter. Geneva Capital Management LLC increased its position in shares of Globus Medical by 13.6% during the second quarter. Geneva Capital Management LLC now owns 2,082,788 shares of the medical device company’s stock valued at $122,926,000 after purchasing an additional 249,141 shares during the period. Marshall Wace LLP increased its position in shares of Globus Medical by 89.7% during the second quarter. Marshall Wace LLP now owns 1,580,476 shares of the medical device company’s stock valued at $93,280,000 after purchasing an additional 747,330 shares during the period. Finally, AXA S.A. raised its stake in shares of Globus Medical by 9.0% in the second quarter. AXA S.A. now owns 1,528,531 shares of the medical device company’s stock valued at $90,214,000 after purchasing an additional 126,326 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada boosted their price target on shares of Globus Medical from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Citigroup reissued a “market perform” rating on shares of Globus Medical in a research note on Thursday, January 8th. Zacks Research cut shares of Globus Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. TD Cowen upgraded Globus Medical to a “strong-buy” rating in a research note on Tuesday, January 27th. Finally, Piper Sandler reissued an “overweight” rating and issued a $115.00 target price (up from $90.00) on shares of Globus Medical in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and an average target price of $100.18.

Globus Medical Stock Performance

Shares of GMED opened at $90.19 on Thursday. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 1.36 and a beta of 1.06. The stock has a fifty day moving average price of $89.72 and a two-hundred day moving average price of $74.65. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $101.40.

Insider Activity at Globus Medical

In other Globus Medical news, EVP Kelly Huller sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $87.67, for a total value of $876,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leslie V. Norwalk sold 2,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 10,419 shares in the company, valued at $1,053,360.90. The trade was a 16.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 41,636 shares of company stock valued at $3,786,033 over the last ninety days. 18.51% of the stock is owned by insiders.

About Globus Medical

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.