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

Illinois Municipal Retirement Fund raised its position in shares of Globus Medical, Inc. (NYSE:GMED) by 36.4% in the third quarter, HoldingsChannel.com reports. The firm 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GMED. Burgundy Asset Management Ltd. boosted its stake in shares of Globus Medical by 24.3% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 3,481,438 shares of the medical device company’s stock valued at $205,474,000 after purchasing an additional 679,691 shares during the last quarter. Sculptor Capital LP boosted its position in Globus Medical by 31.9% during the second quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company’s stock valued at $162,936,000 after acquiring an additional 667,850 shares during the last quarter. Geneva Capital Management LLC grew its holdings in Globus Medical by 13.6% during the 2nd quarter. Geneva Capital Management LLC now owns 2,082,788 shares of the medical device company’s stock worth $122,926,000 after acquiring an additional 249,141 shares during the period. Marshall Wace LLP grew its holdings in Globus Medical by 89.7% during the 2nd quarter. Marshall Wace LLP now owns 1,580,476 shares of the medical device company’s stock worth $93,280,000 after acquiring an additional 747,330 shares during the period. Finally, AXA S.A. raised its position in shares of Globus Medical by 9.0% in the 2nd quarter. AXA S.A. now owns 1,528,531 shares of the medical device company’s stock worth $90,214,000 after acquiring an additional 126,326 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Up 0.9%

NYSE GMED opened at $88.05 on Monday. The company has a market cap of $11.78 billion, a price-to-earnings ratio of 28.40, a P/E/G ratio of 1.35 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. The business has a 50 day moving average price of $89.68 and a 200-day moving average price of $74.04.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GMED shares. Wall Street Zen upgraded Globus Medical from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Canaccord Genuity Group boosted their price target on Globus Medical from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Wells Fargo & Company raised their price objective 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. TD Cowen upgraded shares of Globus Medical to a “strong-buy” rating in a research note on Tuesday, January 27th. Finally, Stifel Nicolaus began coverage on shares of Globus Medical in a research report on Tuesday, October 28th. They set a “hold” rating and a $64.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.18.

Insider Activity at Globus Medical

In other news, CFO Kyle Kline sold 3,594 shares of the business’s stock in a transaction dated 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 available through this hyperlink. Also, SVP Kelly Huller sold 7,500 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $90.00, for a total transaction of $675,000.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 31,636 shares of company stock valued at $2,909,333. 18.54% of the stock is owned by company insiders.

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.