TT International Asset Management LTD Has $2.42 Million Position in Globus Medical, Inc. $GMED

TT International Asset Management LTD lessened its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 16.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,249 shares of the medical device company’s stock after selling 8,460 shares during the period. Globus Medical accounts for about 0.3% of TT International Asset Management LTD’s portfolio, making the stock its 23rd biggest position. TT International Asset Management LTD’s holdings in Globus Medical were worth $2,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of GMED. EverSource Wealth Advisors LLC increased its position in shares of Globus Medical by 74.3% in the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after purchasing an additional 197 shares during the period. Advisors Asset Management Inc. acquired a new stake in Globus Medical during the second quarter worth about $28,000. CENTRAL TRUST Co acquired a new stake in Globus Medical during the second quarter worth about $39,000. Caitong International Asset Management Co. Ltd increased its holdings in Globus Medical by 202.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 572 shares of the medical device company’s stock valued at $42,000 after buying an additional 383 shares during the period. Finally, Headlands Technologies LLC raised its position in shares of Globus Medical by 485.4% in the 2nd quarter. Headlands Technologies LLC now owns 761 shares of the medical device company’s stock valued at $45,000 after buying an additional 631 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $86.50 on Tuesday. The company’s 50 day moving average price is $74.99 and its two-hundred day moving average price is $64.03. The firm has a market capitalization of $11.58 billion, a P/E ratio of 27.90, a P/E/G ratio of 1.60 and a beta of 1.06. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week high of $94.93.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Thursday, November 6th. The medical device company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.39. Globus Medical had a return on equity of 11.52% and a net margin of 15.30%.The company had revenue of $769.05 million during the quarter, compared to analysts’ expectations of $734.58 million. During the same period in the prior year, the company earned $0.83 EPS. Globus Medical’s revenue was up 22.9% compared to the same quarter last year. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. On average, analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Insider Transactions at Globus Medical

In other news, Director Stephen T. Zarrilli sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $84.29, for a total value of $2,107,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David D. Davidar sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $86.00, for a total transaction of $2,150,000.00. Following the completion of the transaction, the director owned 516,275 shares of the company’s stock, valued at approximately $44,399,650. This trade represents a 4.62% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 86,042 shares of company stock valued at $7,419,030. 18.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GMED shares. Stifel Nicolaus started coverage on shares of Globus Medical in a report on Tuesday, October 28th. They set a “hold” rating and a $64.00 price target for the company. Barclays boosted their price objective on shares of Globus Medical from $106.00 to $114.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Zacks Research downgraded Globus Medical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Bank of America upgraded Globus Medical from a “neutral” rating to a “buy” rating and lifted their price target for the company from $65.00 to $91.00 in a research note on Friday, November 7th. Finally, Royal Bank Of Canada boosted their price target on Globus Medical from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.00.

Globus Medical Profile

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.