Globus Medical, Inc. $GMED Shares Purchased by Alps Advisors Inc.

Alps Advisors Inc. boosted its holdings in Globus Medical, Inc. (NYSE:GMED) by 60.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,361 shares of the medical device company’s stock after purchasing an additional 8,440 shares during the period. Alps Advisors Inc.’s holdings in Globus Medical were worth $1,281,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Burgundy Asset Management Ltd. increased its stake 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 worth $205,474,000 after buying an additional 679,691 shares during the last quarter. Sculptor Capital LP increased its position in shares of Globus Medical by 31.9% in the 2nd quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company’s stock worth $162,936,000 after purchasing an additional 667,850 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Globus Medical by 5.8% in the 2nd quarter. William Blair Investment Management LLC now owns 2,405,031 shares of the medical device company’s stock worth $141,945,000 after purchasing an additional 131,244 shares during the last quarter. Geneva Capital Management LLC raised its stake in shares of Globus Medical by 13.6% in the 2nd quarter. Geneva Capital Management LLC now owns 2,082,788 shares of the medical device company’s stock valued at $122,926,000 after purchasing an additional 249,141 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Globus Medical by 89.7% during the second quarter. Marshall Wace LLP now owns 1,580,476 shares of the medical device company’s stock worth $93,280,000 after purchasing an additional 747,330 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Globus Medical

In other news, SVP Kelly Huller sold 7,500 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $90.00, for a total value of $675,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leslie V. Norwalk sold 2,000 shares of the business’s stock in a transaction 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 completion of the sale, the director directly owned 10,419 shares in the company, valued at $1,053,360.90. This represents a 16.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,636 shares of company stock valued at $2,909,333 in the last quarter. Corporate insiders own 18.51% of the company’s stock.

Globus Medical Stock Down 0.5%

Shares of NYSE:GMED opened at $88.29 on Thursday. The company’s 50-day moving average price is $89.78 and its 200 day moving average price is $73.43. The company has a market cap of $11.82 billion, a PE ratio of 28.48, a P/E/G ratio of 1.36 and a beta of 1.06. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week high of $101.40.

Wall Street Analysts Forecast Growth

GMED has been the subject of several research analyst reports. Needham & Company LLC raised Globus Medical from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a report on Friday, January 30th. Zacks Research downgraded Globus Medical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. BTIG Research restated a “neutral” rating on shares of Globus Medical in a research note on Tuesday, December 30th. Citigroup reaffirmed a “market perform” rating on shares of Globus Medical in a report on Thursday, January 8th. Finally, Wells Fargo & Company increased their target price on shares of Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and an average target price of $100.18.

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.