Sio Capital Management LLC Grows Stake in Globus Medical, Inc. $GMED

Sio Capital Management LLC boosted its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 18.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 245,570 shares of the medical device company’s stock after acquiring an additional 38,570 shares during the quarter. Globus Medical accounts for 5.5% of Sio Capital Management LLC’s portfolio, making the stock its 3rd biggest holding. Sio Capital Management LLC owned about 0.18% of Globus Medical worth $14,494,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GMED. Advisors Asset Management Inc. bought a new stake in Globus Medical during the 2nd quarter valued at about $28,000. CENTRAL TRUST Co purchased a new position in shares of Globus Medical during the second quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd increased its position in shares of Globus Medical by 202.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 572 shares of the medical device company’s stock worth $42,000 after acquiring an additional 383 shares during the period. Signaturefd LLC raised its stake in shares of Globus Medical by 41.1% during the second quarter. Signaturefd LLC now owns 958 shares of the medical device company’s stock valued at $57,000 after acquiring an additional 279 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Globus Medical by 237.3% in the 1st 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. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Trading Down 1.4%

Shares of GMED stock opened at $89.75 on Tuesday. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $94.93. The business’s fifty day simple moving average is $68.79 and its 200-day simple moving average is $62.01. The company has a market cap of $12.01 billion, a PE ratio of 34.52, a PEG ratio of 1.68 and a beta of 1.15.

Globus Medical (NYSE:GMED) last announced its earnings results on Thursday, November 6th. The medical device company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.39. Globus Medical had a return on equity of 10.65% and a net margin of 13.58%.The firm had revenue of $769.05 million for the quarter, compared to the consensus estimate of $734.58 million. During the same period in the previous year, the business earned $0.83 EPS. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. On average, equities analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Insider Activity at Globus Medical

In related news, Director Stephen T. Zarrilli sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $84.29, for a total value of $2,107,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David D. Davidar sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $86.00, for a total transaction of $2,150,000.00. Following the transaction, the director owned 516,275 shares in the company, valued at $44,399,650. The trade was a 4.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 77,500 shares of company stock worth $6,334,850. 18.51% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on GMED. Morgan Stanley reissued an “overweight” rating on shares of Globus Medical in a research report on Tuesday. Wells Fargo & Company lifted their price objective on shares of Globus Medical from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Wall Street Zen raised shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 16th. Zacks Research raised Globus Medical from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Globus Medical in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.91.

Globus Medical Company Profile

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.