Handelsbanken Fonder AB Buys 10,000 Shares of Globus Medical, Inc. $GMED

Handelsbanken Fonder AB lifted its position in Globus Medical, Inc. (NYSE:GMED) by 29.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,897 shares of the medical device company’s stock after acquiring an additional 10,000 shares during the period. Handelsbanken Fonder AB’s holdings in Globus Medical were worth $2,514,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GMED. ANTIPODES PARTNERS Ltd raised its position in Globus Medical by 49,020.3% during the third quarter. ANTIPODES PARTNERS Ltd now owns 891,043 shares of the medical device company’s stock worth $51,034,000 after acquiring an additional 889,229 shares in the last quarter. Paradice Investment Management LLC grew its position in shares of Globus Medical by 20.9% in the 3rd quarter. Paradice Investment Management LLC now owns 663,038 shares of the medical device company’s stock valued at $37,972,000 after acquiring an additional 114,433 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Globus Medical by 189.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 476,531 shares of the medical device company’s stock worth $27,953,000 after purchasing an additional 312,149 shares during the last quarter. Foresight Group Ltd Liability Partnership increased its stake in shares of Globus Medical by 160.7% during the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 421,541 shares of the medical device company’s stock worth $24,142,000 after purchasing an additional 259,870 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Globus Medical in the 3rd quarter valued at about $539,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Trading Down 2.2%

Shares of NYSE GMED opened at $91.72 on Wednesday. The firm has a market cap of $12.28 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05. The business’s 50 day moving average is $90.83 and its 200-day moving average is $77.03. Globus Medical, Inc. has a 1-year low of $51.79 and a 1-year high of $101.40.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Tuesday, February 24th. The medical device company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.22. The business had revenue of $826.42 million during the quarter, compared to the consensus estimate of $803.29 million. Globus Medical had a return on equity of 12.57% and a net margin of 18.30%.The firm’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 EPS. Analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GMED shares. Truist Financial set a $115.00 price target on Globus Medical in a report on Wednesday, February 25th. Bank of America raised Globus Medical from a “neutral” rating to a “buy” rating and raised their price objective for the company from $65.00 to $91.00 in a research report on Friday, November 7th. Citigroup reissued a “market perform” rating on shares of Globus Medical in a report on Thursday, January 8th. Morgan Stanley increased their price target on Globus Medical from $70.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Finally, TD Cowen raised shares of Globus Medical to a “strong-buy” rating in a research report on Tuesday, January 27th. One 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 MarketBeat, Globus Medical presently has an average rating of “Moderate Buy” and an average target price of $104.36.

Insider Activity at Globus Medical

In related news, CFO Kyle Kline sold 3,594 shares of the firm’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 document filed with the SEC, which is available through this link. Also, Director Leslie V. Norwalk sold 2,000 shares of Globus Medical stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $101.10, for a total transaction of $202,200.00. Following the completion of the sale, the director owned 10,419 shares of the company’s stock, valued at $1,053,360.90. This trade represents a 16.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 35,594 shares of company stock worth $3,332,253. Corporate insiders own 18.54% of the company’s stock.

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.