Intech Investment Management LLC Has $699,000 Stock Holdings in Globus Medical, Inc. $GMED

Intech Investment Management LLC increased its position in Globus Medical, Inc. (NYSE:GMED) by 134.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,843 shares of the medical device company’s stock after purchasing an additional 6,788 shares during the quarter. Intech Investment Management LLC’s holdings in Globus Medical were worth $699,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GMED. Invesco Ltd. boosted its stake in shares of Globus Medical by 331.9% in the 1st quarter. Invesco Ltd. now owns 2,021,156 shares of the medical device company’s stock valued at $147,949,000 after purchasing an additional 1,553,154 shares during the last quarter. Nuveen LLC bought a new position in Globus Medical in the first quarter valued at approximately $54,669,000. Global Alpha Capital Management Ltd. grew its holdings in Globus Medical by 49.1% during the 2nd quarter. Global Alpha Capital Management Ltd. now owns 1,055,091 shares of the medical device company’s stock worth $62,271,000 after acquiring an additional 347,400 shares during the period. Driehaus Capital Management LLC raised its position in shares of Globus Medical by 60.1% during the 1st quarter. Driehaus Capital Management LLC now owns 873,784 shares of the medical device company’s stock valued at $63,961,000 after acquiring an additional 328,040 shares during the last quarter. Finally, Fiera Capital Corp acquired a new position in shares of Globus Medical in the 1st quarter valued at $19,514,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Stock Performance

NYSE GMED opened at $91.12 on Thursday. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $94.93. The business has a 50 day simple moving average of $66.74 and a 200 day simple moving average of $61.30. The stock has a market cap of $12.20 billion, a price-to-earnings ratio of 35.05, a PEG ratio of 1.68 and a beta of 1.15.

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

Insiders Place Their Bets

In other Globus Medical news, Director Ann D. Rhoads sold 10,000 shares of Globus Medical stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $58.46, for a total value of $584,600.00. Following the sale, the director owned 25,384 shares of the company’s stock, valued at $1,483,948.64. This trade represents a 28.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David D. Davidar sold 25,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $86.00, for a total value of $2,150,000.00. Following the transaction, the director directly owned 516,275 shares of the company’s stock, valued at $44,399,650. This represents a 4.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 70,000 shares of company stock worth $5,659,850. Corporate insiders own 18.51% of the company’s stock.

Analyst Upgrades and Downgrades

GMED has been the subject of a number of recent analyst reports. Truist Financial reiterated a “buy” rating and issued a $105.00 price objective (up previously from $93.00) on shares of Globus Medical in a report on Tuesday, November 18th. Wells Fargo & Company upped their price target on Globus Medical from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Zacks Research raised shares of Globus Medical from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. Royal Bank Of Canada boosted their price objective on shares of Globus Medical from $88.00 to $92.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, Wall Street Zen upgraded shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 16th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Globus Medical presently has an average 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.