AlphaQuest LLC Has $780,000 Stock Position in Globus Medical, Inc. $GMED

AlphaQuest LLC boosted its holdings in Globus Medical, Inc. (NYSE:GMED) by 131.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,622 shares of the medical device company’s stock after buying an additional 7,734 shares during the period. AlphaQuest LLC’s holdings in Globus Medical were worth $780,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GMED. Burgundy Asset Management Ltd. grew its stake in Globus Medical by 24.3% during the second quarter. Burgundy Asset Management Ltd. now owns 3,481,438 shares of the medical device company’s stock worth $205,474,000 after buying an additional 679,691 shares during the last quarter. Sculptor Capital LP grew its position in Globus Medical by 31.9% during the 2nd quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company’s stock worth $162,936,000 after acquiring an additional 667,850 shares during the last quarter. William Blair Investment Management LLC increased its holdings in Globus Medical by 5.8% during the 2nd quarter. William Blair Investment Management LLC now owns 2,405,031 shares of the medical device company’s stock valued at $141,945,000 after purchasing an additional 131,244 shares in the last quarter. Geneva Capital Management LLC raised its position in Globus Medical by 13.6% in the 2nd quarter. Geneva Capital Management LLC now owns 2,082,788 shares of the medical device company’s stock valued at $122,926,000 after purchasing an additional 249,141 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Globus Medical by 89.7% in the second quarter. Marshall Wace LLP now owns 1,580,476 shares of the medical device company’s stock worth $93,280,000 after purchasing an additional 747,330 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Morgan Stanley raised their target price on Globus Medical from $70.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $115.00 target price (up from $90.00) on shares of Globus Medical in a research note on Thursday, January 8th. Wells Fargo & Company upped their target price on shares of Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Barclays raised their price target on shares of Globus Medical from $106.00 to $114.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Finally, Stifel Nicolaus initiated coverage on Globus Medical in a research report on Tuesday, October 28th. They issued a “hold” rating and a $64.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and an average target price of $100.18.

Globus Medical Stock Performance

Shares of Globus Medical stock opened at $87.39 on Wednesday. The firm has a fifty day moving average of $90.04 and a two-hundred day moving average of $72.11. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 1.38 and a beta of 1.06. Globus Medical, Inc. has a 52 week low of $51.79 and a 52 week high of $101.40.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, November 6th. The medical device company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.39. Globus Medical had a return on equity of 11.52% and a net margin of 15.30%.The business had revenue of $769.05 million during the quarter, compared to the consensus estimate of $734.58 million. During the same quarter in the prior year, the company posted $0.83 earnings per share. The firm’s revenue was up 22.9% on a year-over-year basis. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. As a group, research analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other Globus Medical news, SVP Kelly Huller sold 7,500 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $90.00, for a total value of $675,000.00. 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 business’s stock in a transaction 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 completion of the transaction, the director directly owned 516,275 shares of the company’s stock, valued at $44,399,650. This trade represents a 4.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 91,636 shares of company stock worth $7,984,583 over the last ninety days. Company insiders own 18.54% of the company’s stock.

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.