GW&K Investment Management LLC Sells 72,271 Shares of Globus Medical, Inc. $GMED

GW&K Investment Management LLC reduced its stake in Globus Medical, Inc. (NYSE:GMED) by 3.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,777,431 shares of the medical device company’s stock after selling 72,271 shares during the quarter. Globus Medical comprises 0.9% of GW&K Investment Management LLC’s holdings, making the stock its 17th largest holding. GW&K Investment Management LLC owned about 1.32% of Globus Medical worth $101,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Burgundy Asset Management Ltd. raised its holdings in Globus Medical by 24.3% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 3,481,438 shares of the medical device company’s stock worth $205,474,000 after purchasing an additional 679,691 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Globus Medical by 17.2% during the third quarter. William Blair Investment Management LLC now owns 2,819,165 shares of the medical device company’s stock worth $161,454,000 after buying an additional 414,134 shares during the period. Sculptor Capital LP raised its stake 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 worth $162,936,000 after buying an additional 667,850 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Globus Medical by 72.1% during the third quarter. Dimensional Fund Advisors LP now owns 2,011,104 shares of the medical device company’s stock worth $115,166,000 after buying an additional 842,547 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings 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 valued at $93,280,000 after buying an additional 747,330 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Trading Down 1.4%

Shares of NYSE GMED opened at $90.39 on Thursday. The firm has a market capitalization of $12.10 billion, a P/E ratio of 22.94, a P/E/G ratio of 2.14 and a beta of 1.05. The firm’s 50-day moving average price is $90.87 and its 200-day moving average price is $77.12. Globus Medical, Inc. has a 1-year low of $51.79 and a 1-year high of $101.40.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Needham & Company LLC upped their price target on shares of Globus Medical from $112.00 to $114.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. TD Cowen raised Globus Medical to a “strong-buy” rating in a research note on Tuesday, January 27th. Wall Street Zen upgraded Globus Medical from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Bank of America raised Globus Medical from a “neutral” rating to a “buy” rating and raised their target price for the stock from $65.00 to $91.00 in a research note on Friday, November 7th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $115.00 target price (up from $90.00) on shares of Globus Medical in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.36.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, EVP Kelly Huller sold 20,000 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $94.50, for a total transaction of $1,890,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kyle Kline sold 3,594 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $101.10, for a total transaction of $363,353.40. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 35,594 shares of company stock valued at $3,332,253. Company insiders own 18.51% of the company’s stock.

Globus Medical 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.