Globus Medical, Inc. $GMED Holdings Raised by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in Globus Medical, Inc. (NYSE:GMED) by 27.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 592,891 shares of the medical device company’s stock after purchasing an additional 127,146 shares during the quarter. Victory Capital Management Inc.’s holdings in Globus Medical were worth $33,955,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in shares of Globus Medical by 74.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after acquiring an additional 197 shares during the period. Advisors Asset Management Inc. acquired a new position in shares of Globus Medical during the second quarter valued at approximately $28,000. First Horizon Corp bought a new stake in Globus Medical during the third quarter worth approximately $31,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Globus Medical in the third quarter worth approximately $36,000. Finally, CENTRAL TRUST Co acquired a new stake in Globus Medical in the second quarter worth approximately $39,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Performance

NYSE GMED opened at $87.12 on Monday. The stock has a market capitalization of $11.78 billion, a P/E ratio of 22.11, a P/E/G ratio of 2.03 and a beta of 1.05. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $101.40. The business’s fifty day moving average is $90.86 and its two-hundred day moving average is $77.63.

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

Insider Activity at Globus Medical

In other Globus Medical news, EVP Kelly Huller sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $94.50, for a total value of $1,890,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kyle Kline sold 3,594 shares of Globus Medical stock in a transaction that occurred 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. Insiders sold 35,594 shares of company stock worth $3,332,253 in the last quarter. 18.54% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on GMED. Wells Fargo & Company boosted their price objective on Globus Medical from $98.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Canaccord Genuity Group raised their target price on Globus Medical from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, January 9th. BTIG Research reaffirmed a “neutral” rating on shares of Globus Medical in a report on Tuesday, December 30th. Wall Street Zen upgraded shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Finally, 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 report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.36.

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.