Caprock Group LLC Purchases Shares of 10,131 Globus Medical, Inc. $GMED

Caprock Group LLC purchased a new position in shares of Globus Medical, Inc. (NYSE:GMED) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,131 shares of the medical device company’s stock, valued at approximately $621,000.

Other institutional investors also recently modified their holdings of the company. Versor Investments LP bought a new position in Globus Medical during the 3rd quarter worth $664,000. Foresight Group Ltd Liability Partnership increased its stake in shares of 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. Alps Advisors Inc. raised its position in shares of Globus Medical by 60.6% during the third quarter. Alps Advisors Inc. now owns 22,361 shares of the medical device company’s stock worth $1,281,000 after acquiring an additional 8,440 shares during the last quarter. Old West Investment Management LLC raised its position in shares of Globus Medical by 3.0% during the third quarter. Old West Investment Management LLC now owns 99,124 shares of the medical device company’s stock worth $5,677,000 after acquiring an additional 2,872 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Globus Medical by 26.7% in the third quarter. Bessemer Group Inc. now owns 30,357 shares of the medical device company’s stock worth $1,739,000 after acquiring an additional 6,400 shares during the period. Institutional investors own 95.16% of the company’s stock.

Analyst Ratings Changes

GMED has been the subject of several analyst reports. TD Cowen upgraded shares of Globus Medical to a “strong-buy” rating in a report on Tuesday, January 27th. Citigroup reissued a “market perform” rating on shares of Globus Medical in a research note on Thursday, January 8th. Truist Financial restated a “buy” rating and issued a $105.00 target price (up previously from $93.00) on shares of Globus Medical in a report on Tuesday, November 18th. Wells Fargo & Company increased their price target on Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Finally, Morgan Stanley boosted their price objective on Globus Medical from $70.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.18.

Insider Activity

In other Globus Medical news, CFO Kyle Kline sold 18,542 shares of Globus Medical stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $90.00, for a total transaction of $1,668,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leslie V. Norwalk sold 2,000 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 value of $202,200.00. Following the completion of the sale, the director directly owned 10,419 shares of the company’s stock, valued at approximately $1,053,360.90. This trade represents a 16.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 31,636 shares of company stock worth $2,909,333 over the last three months. 18.54% of the stock is currently owned by insiders.

Globus Medical Stock Up 0.9%

Shares of GMED opened at $88.05 on Tuesday. The business’s fifty day moving average is $89.66 and its 200 day moving average is $74.29. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $101.40. The stock has a market cap of $11.78 billion, a P/E ratio of 28.40, a P/E/G ratio of 1.35 and a beta of 1.06.

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.