Globus Medical, Inc. $GMED Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in Globus Medical, Inc. (NYSE:GMED) by 27.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 592,891 shares of the medical device company’s stock after purchasing an additional 127,146 shares during the period. Victory Capital Management Inc. owned 0.44% of Globus Medical worth $33,955,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of GMED. ANTIPODES PARTNERS Ltd increased its holdings in Globus Medical by 49,020.3% in the third quarter. ANTIPODES PARTNERS Ltd now owns 891,043 shares of the medical device company’s stock valued at $51,034,000 after buying an additional 889,229 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Globus Medical by 189.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 476,531 shares of the medical device company’s stock worth $27,953,000 after buying an additional 312,149 shares during the last quarter. Paradice Investment Management LLC lifted its holdings in Globus Medical by 20.9% during the 3rd quarter. Paradice Investment Management LLC now owns 663,038 shares of the medical device company’s stock worth $37,972,000 after buying an additional 114,433 shares during the last quarter. Foresight Group Ltd Liability Partnership grew its position in shares of Globus Medical by 160.7% in the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 421,541 shares of the medical device company’s stock worth $24,142,000 after acquiring an additional 259,870 shares in the last quarter. Finally, William Blair Investment Management LLC grew its position in shares of Globus Medical by 17.2% in the 3rd quarter. William Blair Investment Management LLC now owns 2,819,165 shares of the medical device company’s stock worth $161,454,000 after acquiring an additional 414,134 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Performance

Globus Medical stock opened at $87.12 on Monday. The company has a 50-day simple moving average of $90.86 and a 200-day simple moving average of $77.63. 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 one year low of $51.79 and a one year high of $101.40.

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

Insider Buying and Selling 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 stock was sold at an average price of $101.10, for a total transaction of $202,200.00. Following 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 filing with the SEC, which is accessible through the SEC website. Also, EVP Kelly Huller sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total value of $1,890,000.00. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 35,594 shares of company stock worth $3,332,253. 18.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wall Street Zen raised Globus Medical from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. TD Cowen upgraded shares of Globus Medical to a “strong-buy” rating in a research note on Tuesday, January 27th. Citigroup reissued a “market perform” rating on shares of Globus Medical in a report on Thursday, January 8th. Morgan Stanley lifted their price target on shares of Globus Medical from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Finally, Barclays increased their price objective on shares of Globus Medical from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.36.

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.