Versor Investments LP Invests $664,000 in Globus Medical, Inc. $GMED

Versor Investments LP acquired a new stake in shares of Globus Medical, Inc. (NYSE:GMED) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 11,600 shares of the medical device company’s stock, valued at approximately $664,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Paradice Investment Management LLC lifted its stake in 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 worth $37,972,000 after purchasing an additional 114,433 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Globus Medical by 189.9% in the third 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. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Globus Medical in the third quarter worth about $539,000. Foresight Group Ltd Liability Partnership boosted its stake in Globus Medical by 160.7% during the third quarter. Foresight Group Ltd Liability Partnership now owns 421,541 shares of the medical device company’s stock valued at $24,142,000 after buying an additional 259,870 shares during the last quarter. Finally, Lightrock Netherlands B.V. grew its holdings in Globus Medical by 6.2% during the 3rd quarter. Lightrock Netherlands B.V. now owns 251,900 shares of the medical device company’s stock valued at $14,426,000 after buying an additional 14,750 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Globus Medical

In related news, Director Leslie V. Norwalk sold 2,000 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 value of $202,200.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kelly Huller sold 7,500 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $90.00, for a total transaction of $675,000.00. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 31,636 shares of company stock worth $2,909,333. Insiders own 18.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on GMED. Wells Fargo & Company upped their price objective on Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Royal Bank Of Canada upped their price target on shares of Globus Medical from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Wall Street Zen raised shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 3rd. Needham & Company LLC upgraded shares of Globus Medical from a “hold” rating to a “buy” rating and set a $112.00 target price on the stock in a report on Friday, January 30th. Finally, Canaccord Genuity Group upped their target price on shares of Globus Medical from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and an average target price of $100.18.

Globus Medical Stock Performance

Shares of GMED stock opened at $88.29 on Thursday. The stock has a 50 day moving average price of $89.78 and a 200 day moving average price of $73.43. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $101.40. The firm has a market capitalization of $11.82 billion, a P/E ratio of 28.48, a P/E/G ratio of 1.36 and a beta of 1.06.

Globus Medical Company 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.