Citigroup Inc. Grows Stock Position in Globus Medical, Inc. $GMED

Citigroup Inc. lifted its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 13.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 79,674 shares of the medical device company’s stock after acquiring an additional 9,239 shares during the period. Citigroup Inc. owned approximately 0.06% of Globus Medical worth $4,563,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in Globus Medical by 45.9% in the 1st quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company’s stock worth $1,622,000 after purchasing an additional 7,086 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Globus Medical by 33.0% in the first quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company’s stock worth $320,000 after buying an additional 1,085 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Globus Medical by 38.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company’s stock worth $2,228,000 after buying an additional 8,540 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Globus Medical by 237.3% during the first quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock worth $62,000 after buying an additional 598 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Globus Medical by 8.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,527 shares of the medical device company’s stock valued at $25,439,000 after buying an additional 28,027 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Kelly Huller sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total value of $1,890,000.00. 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 stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $101.10, for a total value of $202,200.00. Following the transaction, the director owned 10,419 shares in the company, valued at $1,053,360.90. This represents a 16.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 35,594 shares of company stock worth $3,332,253. Company insiders own 18.54% of the company’s stock.

Analysts Set New Price Targets

GMED has been the subject of a number of research analyst reports. BTIG Research restated a “neutral” rating on shares of Globus Medical in a research note on Tuesday, December 30th. Wall Street Zen raised Globus Medical from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Morgan Stanley lifted their target price on Globus Medical from $70.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Wells Fargo & Company upped their target price on Globus Medical from $98.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Finally, Needham & Company LLC increased their price target on shares of Globus Medical from $112.00 to $114.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. One 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $104.36.

Globus Medical Trading Down 2.2%

Shares of NYSE:GMED opened at $91.72 on Wednesday. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $101.40. The business has a 50 day moving average of $90.83 and a two-hundred day moving average of $77.03. The company has a market capitalization of $12.28 billion, a PE ratio of 23.28, a PEG ratio of 2.18 and a beta of 1.05.

Globus Medical (NYSE:GMED) last posted its earnings results on Tuesday, February 24th. The medical device company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.22. Globus Medical had a net margin of 18.30% and a return on equity of 12.57%. The firm had revenue of $826.42 million during the quarter, compared to analyst estimates of $803.29 million. During the same period in the previous year, the firm earned $0.84 EPS. The business’s quarterly revenue was up 25.7% on a year-over-year basis. Equities research analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Globus Medical 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.