Fisher Asset Management LLC Sells 278,122 Shares of Globus Medical, Inc. $GMED

Fisher Asset Management LLC decreased its position in shares of Globus Medical, Inc. (NYSE:GMED) by 96.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 9,951 shares of the medical device company’s stock after selling 278,122 shares during the period. Fisher Asset Management LLC’s holdings in Globus Medical were worth $570,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GMED. EverSource Wealth Advisors LLC boosted its position in shares of Globus Medical by 74.3% during the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock valued at $27,000 after purchasing an additional 197 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in Globus Medical in the second quarter worth $28,000. First Horizon Corp bought a new position in Globus Medical in the third quarter worth $31,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Globus Medical in the third quarter worth $36,000. Finally, CENTRAL TRUST Co purchased a new position in Globus Medical during the second quarter valued at $39,000. Institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

GMED has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of Globus Medical from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Wells Fargo & Company increased their price target on shares of Globus Medical from $98.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Needham & Company LLC lifted their price target on shares of Globus Medical from $112.00 to $114.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Wall Street Zen raised shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 3rd. Finally, TD Cowen upgraded shares of Globus Medical to a “strong-buy” rating in a report on Tuesday, January 27th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.36.

Globus Medical Trading Down 2.4%

Globus Medical stock opened at $87.12 on Friday. The business’s fifty day simple moving average is $90.86 and its two-hundred day simple moving average is $77.51. Globus Medical, Inc. has a 12 month low of $51.79 and a 12 month high of $101.40. The company has a market capitalization of $11.78 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 2.03 and a beta of 1.05.

Globus Medical (NYSE:GMED) last released its earnings results on Tuesday, February 24th. The medical device company reported $1.28 EPS for the quarter, topping 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 firm had revenue of $826.42 million for the quarter, compared to analysts’ expectations of $803.29 million. During the same period in the prior year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was up 25.7% on a year-over-year basis. On average, equities research analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current year.

Insider Buying and Selling

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 sale, the director directly owned 10,419 shares of the company’s stock, valued at approximately $1,053,360.90. This represents a 16.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kelly Huller sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $94.50, for a total transaction of $1,890,000.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 35,594 shares of company stock worth $3,332,253 in the last quarter. Corporate insiders own 18.51% of the company’s stock.

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.