Grantham Mayo Van Otterloo & Co. LLC Purchases 6,657 Shares of Globus Medical, Inc. $GMED

Grantham Mayo Van Otterloo & Co. LLC lifted its position in Globus Medical, Inc. (NYSE:GMED) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 728,438 shares of the medical device company’s stock after acquiring an additional 6,657 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Globus Medical were worth $41,718,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in Globus Medical by 45.9% during the 1st quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company’s stock worth $1,622,000 after acquiring an additional 7,086 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Globus Medical by 33.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company’s stock valued at $320,000 after purchasing an additional 1,085 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Globus Medical by 38.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company’s stock valued at $2,228,000 after purchasing an additional 8,540 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Globus Medical by 237.3% in the 1st quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock worth $62,000 after purchasing an additional 598 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Globus Medical by 8.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,527 shares of the medical device company’s stock valued at $25,439,000 after purchasing an additional 28,027 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Leslie V. Norwalk sold 2,000 shares of the company’s 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 transaction, the director directly owned 10,419 shares of the company’s stock, valued at $1,053,360.90. This represents a 16.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kelly Huller sold 20,000 shares of the 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 SEC filing for this sale provides additional information. In the last quarter, insiders sold 35,594 shares of company stock worth $3,332,253. Insiders own 18.51% of the company’s stock.

Globus Medical Stock Down 2.4%

NYSE GMED opened at $87.12 on Friday. The firm has a market cap of $11.78 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 2.03 and a beta of 1.05. The company has a 50 day moving average price of $90.86 and a 200 day moving average price of $77.51. Globus Medical, Inc. has a 52 week low of $51.79 and a 52 week high of $101.40.

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

Analyst Ratings Changes

GMED has been the subject of a number of recent research reports. TD Cowen raised shares of Globus Medical to a “strong-buy” rating in a research note on Tuesday, January 27th. Needham & Company LLC increased their target price on Globus Medical from $112.00 to $114.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Morgan Stanley lifted their price target on Globus Medical from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Piper Sandler reissued an “overweight” rating and issued a $115.00 price target (up from $90.00) on shares of Globus Medical in a research report on Thursday, January 8th. Finally, Canaccord Genuity Group upped their price objective on Globus Medical from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.