Massachusetts Financial Services Co. MA Sells 165,185 Shares of Globus Medical, Inc. $GMED

Massachusetts Financial Services Co. MA lowered its stake in Globus Medical, Inc. (NYSE:GMED) by 19.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 681,898 shares of the medical device company’s stock after selling 165,185 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.50% of Globus Medical worth $39,052,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GMED. 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 valued at $27,000 after purchasing an additional 197 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in Globus Medical in the second quarter worth $28,000. First Horizon Corp bought a new stake in Globus Medical in the third quarter worth $31,000. CENTRAL TRUST Co purchased a new position in Globus Medical during the second quarter worth $39,000. Finally, Headlands Technologies LLC increased its position in Globus Medical by 485.4% during the second quarter. Headlands Technologies LLC now owns 761 shares of the medical device company’s stock valued at $45,000 after acquiring an additional 631 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Globus Medical

In related news, Director Stephen T. Zarrilli sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $84.29, for a total transaction of $2,107,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kelly Huller sold 7,500 shares of the firm’s stock in a transaction that occurred on 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. In the last quarter, insiders sold 91,636 shares of company stock valued at $7,984,583. 18.51% of the stock is currently owned by corporate insiders.

Globus Medical Stock Up 1.3%

Globus Medical stock opened at $94.16 on Thursday. The firm has a market cap of $12.60 billion, a P/E ratio of 30.37, a P/E/G ratio of 1.38 and a beta of 1.06. The business has a fifty day moving average of $88.92 and a two-hundred day moving average of $69.84. Globus Medical, Inc. has a twelve month low of $51.79 and a twelve month high of $101.40.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays raised their target price on shares of Globus Medical from $106.00 to $114.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Citigroup reissued a “market perform” rating on shares of Globus Medical in a research note on Thursday, January 8th. Royal Bank Of Canada upped their target price on Globus Medical from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Wells Fargo & Company increased their price target on Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Globus Medical in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $97.78.

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.