Globus Medical, Inc. $GMED Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its position in Globus Medical, Inc. (NYSE:GMED) by 13.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,419 shares of the medical device company’s stock after selling 31,803 shares during the period. Exchange Traded Concepts LLC owned about 0.15% of Globus Medical worth $17,673,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GMED. AQR Capital Management LLC increased its position in shares of Globus Medical by 45.9% in the first quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company’s stock valued at $1,622,000 after buying an additional 7,086 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Globus Medical by 33.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company’s stock worth $320,000 after buying an additional 1,085 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Globus Medical by 38.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company’s stock worth $2,228,000 after buying an additional 8,540 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Globus Medical by 237.3% in the 1st quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock valued at $62,000 after acquiring an additional 598 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Globus Medical by 8.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,527 shares of the medical device company’s stock valued at $25,439,000 after acquiring an additional 28,027 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Globus Medical

In other news, EVP Kelly Huller sold 20,000 shares of the 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kyle Kline sold 3,594 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $101.10, for a total transaction of $363,353.40. The SEC filing for this sale provides additional information. Insiders have sold a total of 35,594 shares of company stock worth $3,332,253 in the last three months. Company insiders own 18.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Barclays raised their target price on shares of Globus Medical from $118.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Truist Financial set a $115.00 price target on shares of Globus Medical in a research report on Wednesday, February 25th. BTIG Research reissued a “neutral” rating on shares of Globus Medical in a research note on Tuesday, December 30th. Canaccord Genuity Group lifted their price objective on Globus Medical from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $115.00 target price (up from $90.00) on shares of Globus Medical in a research note on Thursday, January 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given 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 price target of $104.36.

Globus Medical Stock Down 3.1%

Shares of NYSE:GMED opened at $83.80 on Friday. The company has a market cap of $11.33 billion, a P/E ratio of 21.27, a P/E/G ratio of 1.96 and a beta of 1.05. Globus Medical, Inc. has a 52 week low of $51.79 and a 52 week high of $101.40. The business has a fifty day simple moving average of $89.48 and a 200-day simple moving average of $80.19.

Globus Medical (NYSE:GMED) last released its earnings results on Tuesday, February 24th. The medical device company reported $1.28 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $803.29 million. During the same period in the prior year, the business posted $0.84 earnings per share. The firm’s revenue for the quarter was up 25.7% compared to the same quarter last year. Sell-side analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

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.