Globus Medical, Inc. $GMED Shares Purchased by William Blair Investment Management LLC

William Blair Investment Management LLC boosted its position in Globus Medical, Inc. (NYSE:GMED) by 17.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,819,165 shares of the medical device company’s stock after acquiring an additional 414,134 shares during the period. William Blair Investment Management LLC’s holdings in Globus Medical were worth $161,454,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in GMED. EverSource Wealth Advisors LLC grew 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 valued at $27,000 after purchasing an additional 197 shares during the period. Advisors Asset Management Inc. purchased a new stake in Globus Medical in the 2nd quarter valued at about $28,000. First Horizon Corp acquired a new position in shares of Globus Medical during the 3rd quarter valued at about $31,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Globus Medical during the 3rd quarter worth about $36,000. Finally, CENTRAL TRUST Co acquired a new stake in shares of Globus Medical in the second quarter worth approximately $39,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GMED. Barclays increased their price target on shares of Globus Medical from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday. Truist Financial set a $115.00 target price on Globus Medical in a research report on Wednesday. Wall Street Zen raised Globus Medical from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Piper Sandler restated an “overweight” rating and issued a $115.00 price objective (up from $90.00) on shares of Globus Medical in a report on Thursday, January 8th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Globus Medical in a research note on Tuesday, December 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Globus Medical currently has an average rating of “Moderate Buy” and a consensus price target of $104.36.

Insider Buying and Selling at Globus Medical

In other news, EVP Kelly Huller sold 20,000 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total transaction of $1,890,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leslie V. Norwalk sold 2,000 shares of the firm’s 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 $202,200.00. Following the sale, the director directly owned 10,419 shares of the company’s stock, valued at $1,053,360.90. The trade was a 16.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 54,136 shares of company stock worth $5,001,033 in the last 90 days. 18.51% of the stock is owned by corporate insiders.

Globus Medical Stock Performance

Shares of NYSE:GMED opened at $95.39 on Friday. The business’s 50-day simple moving average is $90.69 and its 200 day simple moving average is $76.48. The company has a market cap of $12.77 billion, a P/E ratio of 24.21, a PEG ratio of 2.21 and a beta of 1.06. Globus Medical, Inc. has a one year low of $51.79 and a one year high of $101.40.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Tuesday, February 24th. The medical device company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $803.29 million. During the same quarter last year, the firm posted $0.84 earnings per share. The business’s quarterly revenue was up 25.7% on a year-over-year basis. Analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

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.