Kathmere Capital Management LLC Cuts Stock Holdings in Globus Medical, Inc. $GMED

Kathmere Capital Management LLC lowered its holdings in Globus Medical, Inc. (NYSE:GMED) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 270,888 shares of the medical device company’s stock after selling 8,447 shares during the quarter. Globus Medical makes up 1.6% of Kathmere Capital Management LLC’s portfolio, making the stock its 17th biggest position. Kathmere Capital Management LLC owned 0.20% of Globus Medical worth $23,651,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GMED. Burgundy Asset Management Ltd. increased its holdings in Globus Medical by 24.3% during 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 buying an additional 679,691 shares during the period. William Blair Investment Management LLC raised its stake in Globus Medical by 17.2% in the third quarter. William Blair Investment Management LLC now owns 2,819,165 shares of the medical device company’s stock worth $161,454,000 after buying an additional 414,134 shares in the last quarter. Sculptor Capital LP lifted its holdings in Globus Medical by 31.9% during the second 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. Alliancebernstein L.P. lifted its holdings in Globus Medical by 1,303.9% during the third quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company’s stock worth $117,700,000 after buying an additional 1,908,795 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Globus Medical by 72.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,011,104 shares of the medical device company’s stock valued at $115,166,000 after acquiring an additional 842,547 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GMED. Piper Sandler reiterated an “overweight” rating and issued a $115.00 price target (up from $90.00) on shares of Globus Medical in a report on Thursday, January 8th. BTIG Research restated a “neutral” rating on shares of Globus Medical in a research note on Tuesday, December 30th. Wells Fargo & Company raised Globus Medical to a “strong-buy” rating in a research report on Wednesday, March 18th. Canaccord Genuity Group lifted their target price on Globus Medical from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Finally, Wall Street Zen upgraded shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and an average price target of $104.36.

Globus Medical Stock Down 0.9%

Shares of GMED opened at $86.56 on Friday. The company has a 50 day moving average of $89.68 and a two-hundred day moving average of $79.88. Globus Medical, Inc. has a twelve month low of $51.79 and a twelve month high of $101.40. The company has a market cap of $11.71 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 2.04 and a beta of 1.05.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Tuesday, February 24th. The medical device company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.22. Globus Medical had a return on equity of 12.57% and a net margin of 18.30%.The business 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 firm posted $0.84 earnings per share. The business’s quarterly revenue was up 25.7% on a year-over-year basis. On average, sell-side analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current year.

Insider Activity at Globus Medical

In related news, Director Leslie V. Norwalk sold 2,000 shares of the company’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $101.10, for a total transaction of $202,200.00. Following the transaction, the director directly owned 10,419 shares of the company’s stock, valued at $1,053,360.90. This represents a 16.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $1,890,000.00. The SEC filing for this sale provides additional information. Insiders have sold 35,594 shares of company stock valued at $3,332,253 in the last ninety days. Corporate insiders own 18.51% of the company’s stock.

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.