Bessemer Group Inc. Has $1.74 Million Stock Position in Globus Medical, Inc. $GMED

Bessemer Group Inc. boosted its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 26.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,357 shares of the medical device company’s stock after buying an additional 6,400 shares during the quarter. Bessemer Group Inc.’s holdings in Globus Medical were worth $1,739,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Boston Trust Walden Corp acquired a new position in shares of Globus Medical during the 3rd quarter worth approximately $67,891,000. Norges Bank bought a new position in Globus Medical during the second quarter worth $68,038,000. Marshall Wace LLP increased its holdings in shares of Globus Medical by 89.7% in 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 last quarter. Burgundy Asset Management Ltd. raised its position in shares of Globus Medical by 24.3% in the second quarter. Burgundy Asset Management Ltd. now owns 3,481,438 shares of the medical device company’s stock valued at $205,474,000 after purchasing an additional 679,691 shares during the period. Finally, Sculptor Capital LP boosted 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 buying an additional 667,850 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GMED. Zacks Research cut shares of Globus Medical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Stifel Nicolaus began coverage on Globus Medical in a research report on Tuesday, October 28th. They set a “hold” rating and a $64.00 price objective on the stock. 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 research report on Tuesday, December 2nd. Barclays raised their price target on shares of Globus Medical from $106.00 to $114.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Finally, Citigroup reissued a “market perform” rating on shares of Globus Medical in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.18.

Globus Medical Trading Up 0.5%

Shares of NYSE:GMED opened at $87.93 on Monday. The firm has a 50 day moving average of $89.82 and a 200-day moving average of $72.84. Globus Medical, Inc. has a 12 month low of $51.79 and a 12 month high of $101.40. The stock has a market capitalization of $11.77 billion, a PE ratio of 28.36, a PEG ratio of 1.35 and a beta of 1.06.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Thursday, November 6th. The medical device company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.39. Globus Medical had a net margin of 15.30% and a return on equity of 11.52%. The business had revenue of $769.05 million for the quarter, compared to analysts’ expectations of $734.58 million. During the same period last year, the firm posted $0.83 earnings per share. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, research analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Insider Activity at Globus Medical

In related news, Director David D. Davidar sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $86.00, for a total transaction of $2,150,000.00. Following the completion of the sale, the director directly owned 516,275 shares in the company, valued at $44,399,650. This represents a 4.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen T. Zarrilli sold 25,000 shares of Globus Medical stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $84.29, for a total value of $2,107,250.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 81,636 shares of company stock worth $7,166,583 in the last three months. Insiders own 18.54% of the company’s stock.

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.