Grantham Mayo Van Otterloo & Co. LLC Grows Stake in Globus Medical, Inc. $GMED

Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 728,438 shares of the medical device company’s stock after acquiring an additional 6,657 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.54% of Globus Medical worth $41,718,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in shares of Globus Medical by 45.9% during the 1st quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company’s stock valued at $1,622,000 after purchasing an additional 7,086 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in Globus Medical by 33.0% in the first 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Globus Medical by 38.6% in the first 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 during the last quarter. Jones Financial Companies Lllp boosted its stake in Globus Medical by 237.3% during the first quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock worth $62,000 after buying an additional 598 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Globus Medical by 8.8% during the first 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 worth $25,439,000 after buying an additional 28,027 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Globus Medical

In other news, Director Leslie V. Norwalk sold 2,000 shares of Globus Medical stock in a transaction that occurred on 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 sale, the director owned 10,419 shares of the company’s stock, valued at approximately $1,053,360.90. The trade was a 16.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kelly Huller sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $94.50, for a total value of $1,890,000.00. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 35,594 shares of company stock valued at $3,332,253. 18.51% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GMED. Morgan Stanley increased their target price on shares of Globus Medical from $70.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Zacks Research raised shares of Globus Medical from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Barclays upped their price target 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. BTIG Research reissued a “neutral” rating on shares of Globus Medical in a research note on Tuesday, December 30th. Finally, TD Cowen upgraded Globus Medical to a “strong-buy” rating in a research report on Tuesday, January 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $104.36.

Globus Medical Trading Down 2.4%

Shares of GMED opened at $87.12 on Friday. The firm has a fifty day moving average price of $90.86 and a 200-day moving average price of $77.51. The firm has a market capitalization of $11.78 billion, a P/E ratio of 22.11, a P/E/G ratio of 2.03 and a beta of 1.05. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $101.40.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Tuesday, February 24th. The medical device company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.06 by $0.22. Globus Medical had a net margin of 18.30% and a return on equity of 12.57%. The company had revenue of $826.42 million for the quarter, compared to the consensus estimate of $803.29 million. During the same quarter last year, the firm posted $0.84 EPS. The firm’s revenue was up 25.7% compared to the same quarter last year. Analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current 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.