Elo Mutual Pension Insurance Co Has $1.30 Million Stake in Globus Medical, Inc. $GMED

Elo Mutual Pension Insurance Co grew its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 106.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 22,758 shares of the medical device company’s stock after acquiring an additional 11,720 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Globus Medical were worth $1,303,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. ANTIPODES PARTNERS Ltd increased its holdings in shares of Globus Medical by 49,020.3% during the third quarter. ANTIPODES PARTNERS Ltd now owns 891,043 shares of the medical device company’s stock worth $51,034,000 after buying an additional 889,229 shares in the last quarter. Paradice Investment Management LLC raised its position in shares of Globus Medical by 20.9% during the third quarter. Paradice Investment Management LLC now owns 663,038 shares of the medical device company’s stock worth $37,972,000 after acquiring an additional 114,433 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Globus Medical by 189.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 476,531 shares of the medical device company’s stock worth $27,953,000 after purchasing an additional 312,149 shares during the period. Foresight Group Ltd Liability Partnership lifted its holdings in Globus Medical by 160.7% in the third quarter. Foresight Group Ltd Liability Partnership now owns 421,541 shares of the medical device company’s stock valued at $24,142,000 after buying an additional 259,870 shares during the period. Finally, William Blair Investment Management LLC lifted its stake in shares of Globus Medical by 17.2% in the 3rd quarter. William Blair Investment Management LLC now owns 2,819,165 shares of the medical device company’s stock valued at $161,454,000 after purchasing an additional 414,134 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Performance

Shares of Globus Medical stock opened at $89.12 on Friday. The company’s 50 day moving average price is $90.89 and its 200-day moving average price is $77.21. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $101.40. The stock has a market capitalization of $11.93 billion, a price-to-earnings ratio of 22.62, a P/E/G ratio of 2.11 and a beta of 1.05.

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

Insider Buying and Selling at Globus Medical

In other news, EVP Kelly Huller sold 20,000 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total transaction of $1,890,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kyle Kline sold 3,594 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 transaction of $363,353.40. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 35,594 shares of company stock worth $3,332,253. 18.51% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GMED. Piper Sandler reissued an “overweight” rating and set a $115.00 price objective (up from $90.00) on shares of Globus Medical in a research report on Thursday, January 8th. Citigroup reissued a “market perform” rating on shares of Globus Medical in a research report on Thursday, January 8th. Canaccord Genuity Group boosted their price objective on Globus Medical from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Wells Fargo & Company increased their target price on shares of Globus Medical from $98.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Finally, Royal Bank Of Canada raised their price target on Globus Medical from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $104.36.

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.