Assenagon Asset Management S.A. Has $23.27 Million Stock Holdings in Globus Medical, Inc. $GMED

Assenagon Asset Management S.A. raised its position in Globus Medical, Inc. (NYSE:GMED) by 510.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 266,532 shares of the medical device company’s stock after acquiring an additional 222,841 shares during the period. Assenagon Asset Management S.A. owned about 0.20% of Globus Medical worth $23,271,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of GMED. Advisory Services Network LLC bought a new stake in Globus Medical during the 3rd quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its position in 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 during the last quarter. Advisors Asset Management Inc. acquired a new position in Globus Medical during the second quarter valued at approximately $28,000. First Horizon Corp bought a new position in Globus Medical in the third quarter valued at approximately $31,000. Finally, Parallel Advisors LLC grew its stake in Globus Medical by 45.1% in the third quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock valued at $32,000 after purchasing an additional 173 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GMED. Piper Sandler restated an “overweight” rating and set a $115.00 target price (up from $90.00) on shares of Globus Medical in a report on Thursday, January 8th. Citigroup reiterated a “market perform” rating on shares of Globus Medical in a research note on Thursday, January 8th. TD Cowen upgraded shares of Globus Medical to a “strong-buy” rating in a research note on Tuesday, January 27th. Royal Bank Of Canada upped their target price 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. Finally, Wall Street Zen upgraded shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 3rd. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $104.36.

Insider Activity at Globus Medical

In related news, EVP Kelly Huller sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $94.50, for a total value of $1,890,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 directly 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 SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 35,594 shares of company stock worth $3,332,253. Insiders own 18.51% of the company’s stock.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $87.21 on Thursday. The business has a fifty day simple moving average of $89.82 and a two-hundred day simple moving average of $79.83. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $101.40. The company has a market capitalization of $11.79 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 2.02 and a beta of 1.05.

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

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.