Fiera Capital Corp Increases Stake in Globus Medical, Inc. $GMED

Fiera Capital Corp boosted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 272,768 shares of the medical device company’s stock after purchasing an additional 6,190 shares during the period. Fiera Capital Corp owned approximately 0.20% of Globus Medical worth $16,099,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GMED. HB Wealth Management LLC lifted its stake in shares of Globus Medical by 4.7% during the first quarter. HB Wealth Management LLC now owns 3,804 shares of the medical device company’s stock worth $278,000 after buying an additional 170 shares during the period. Whittier Trust Co. raised its stake in Globus Medical by 46.5% in the 1st quarter. Whittier Trust Co. now owns 580 shares of the medical device company’s stock worth $42,000 after acquiring an additional 184 shares during the last quarter. Xponance Inc. lifted its position in Globus Medical by 2.0% during the 1st quarter. Xponance Inc. now owns 13,151 shares of the medical device company’s stock worth $963,000 after acquiring an additional 259 shares during the period. Signaturefd LLC lifted its position in Globus Medical by 41.1% during the 2nd quarter. Signaturefd LLC now owns 958 shares of the medical device company’s stock worth $57,000 after acquiring an additional 279 shares during the period. Finally, Johnson Investment Counsel Inc. grew its stake in Globus Medical by 9.1% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 3,645 shares of the medical device company’s stock valued at $215,000 after purchasing an additional 304 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Transactions at Globus Medical

In other news, Director Ann D. Rhoads sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $85.00, for a total transaction of $170,000.00. Following the sale, the director directly owned 15,384 shares in the company, valued at $1,307,640. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen T. Zarrilli sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $84.29, for a total value of $2,107,250.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 70,000 shares of company stock valued at $5,659,850 in the last ninety days. 18.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on GMED. Stifel Nicolaus initiated coverage on Globus Medical in a research note on Tuesday, October 28th. They issued a “hold” rating and a $64.00 price objective for the company. Truist Financial raised shares of Globus Medical from a “hold” rating to a “buy” rating and raised their price target for the stock from $65.00 to $93.00 in a research report on Friday, November 7th. Zacks Research raised shares of Globus Medical from a “hold” rating to a “strong-buy” rating in a report on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of Globus Medical in a research note on Wednesday, October 8th. Finally, Bank of America upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and boosted their target price for the company from $65.00 to $91.00 in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.82.

Globus Medical Price Performance

Shares of NYSE GMED opened at $83.89 on Friday. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 1.68 and a beta of 1.15. Globus Medical, Inc. has a 12 month low of $51.79 and a 12 month high of $94.93. The firm’s 50 day simple moving average is $61.83 and its 200-day simple moving average is $60.37.

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

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.