Illinois Municipal Retirement Fund Has $2.75 Million Stock Holdings in Globus Medical, Inc. $GMED

Illinois Municipal Retirement Fund lifted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 36.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,060 shares of the medical device company’s stock after purchasing an additional 12,823 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Globus Medical were worth $2,752,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its stake in Globus Medical by 2.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,316 shares of the medical device company’s stock worth $375,000 after buying an additional 170 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Globus Medical by 14.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,438 shares of the medical device company’s stock worth $82,000 after acquiring an additional 184 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Globus Medical by 74.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after acquiring an additional 197 shares in the last quarter. Probity Advisors Inc. boosted its position in shares of Globus Medical by 5.5% during the 3rd quarter. Probity Advisors Inc. now owns 3,792 shares of the medical device company’s stock worth $217,000 after acquiring an additional 199 shares in the last quarter. Finally, Ensign Peak Advisors Inc increased its stake in Globus Medical by 0.3% in the second quarter. Ensign Peak Advisors Inc now owns 68,468 shares of the medical device company’s stock valued at $4,041,000 after acquiring an additional 230 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Kyle Kline sold 3,594 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $101.10, for a total transaction of $363,353.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leslie V. Norwalk sold 2,000 shares of the business’s stock in a transaction 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 completion of the sale, the director directly owned 10,419 shares in the company, valued at approximately $1,053,360.90. This represents a 16.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 31,636 shares of company stock valued at $2,909,333 in the last ninety days. 18.54% of the stock is currently owned by insiders.

Globus Medical Trading Up 0.9%

Globus Medical stock opened at $88.05 on Monday. The stock has a 50-day moving average price of $89.68 and a two-hundred day moving average price of $74.04. Globus Medical, Inc. has a 12 month low of $51.79 and a 12 month high of $101.40. The company has a market capitalization of $11.78 billion, a PE ratio of 28.40, a P/E/G ratio of 1.35 and a beta of 1.06.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GMED shares. Truist Financial restated a “buy” rating and set a $105.00 target price (up from $93.00) on shares of Globus Medical in a research note on Tuesday, November 18th. TD Cowen upgraded Globus Medical to a “strong-buy” rating in a research report on Tuesday, January 27th. Stifel Nicolaus began coverage on Globus Medical in a research note on Tuesday, October 28th. They issued a “hold” rating and a $64.00 price objective on the stock. Citigroup reiterated a “market perform” rating on shares of Globus Medical in a research report on Thursday, January 8th. Finally, Bank of America raised shares of Globus Medical from a “neutral” rating to a “buy” rating and increased their target price for the stock from $65.00 to $91.00 in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $100.18.

About Globus Medical

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.