Globus Medical, Inc. $GMED Position Boosted by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey increased its holdings in Globus Medical, Inc. (NYSE:GMED) by 4.2% during the second quarter, Holdings Channel reports. The firm owned 42,439 shares of the medical device company’s stock after purchasing an additional 1,699 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Globus Medical were worth $2,505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GMED. Larson Financial Group LLC grew its position in Globus Medical by 1,007.7% in the first quarter. Larson Financial Group LLC now owns 432 shares of the medical device company’s stock worth $32,000 after buying an additional 393 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Globus Medical by 3,125.6% during the 1st quarter. IFP Advisors Inc now owns 12,999 shares of the medical device company’s stock worth $955,000 after acquiring an additional 12,596 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Globus Medical by 47.7% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 15,601 shares of the medical device company’s stock worth $1,142,000 after acquiring an additional 5,041 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Globus Medical by 8.9% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 220,678 shares of the medical device company’s stock worth $16,154,000 after purchasing an additional 18,084 shares during the period. Finally, Homestead Advisers Corp raised its position in shares of Globus Medical by 15.3% during the first quarter. Homestead Advisers Corp now owns 76,325 shares of the medical device company’s stock worth $5,587,000 after purchasing an additional 10,100 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Price Performance

NYSE GMED opened at $83.39 on Wednesday. The firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of 32.07, a price-to-earnings-growth ratio of 1.68 and a beta of 1.15. The company has a 50 day simple moving average of $63.27 and a 200-day simple moving average of $60.46. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $94.93.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, November 6th. The medical device company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.39. The firm had revenue of $769.05 million for the quarter, compared to analyst estimates of $734.58 million. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 EPS. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. On average, analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current year.

Wall Street Analysts Forecast Growth

GMED has been the topic of a number of analyst reports. Stifel Nicolaus initiated coverage on Globus Medical in a research note on Tuesday, October 28th. They issued a “hold” rating and a $64.00 price target on the stock. Wall Street Zen raised shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Bank of America upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and boosted their price target for the company from $65.00 to $91.00 in a report on Friday, November 7th. Royal Bank Of Canada raised their price objective on shares of Globus Medical from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Globus Medical in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Globus Medical presently has an average rating of “Moderate Buy” and an average target price of $89.91.

Insider Buying and Selling

In other news, Director David D. Davidar sold 25,000 shares of Globus Medical stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $86.00, for a total transaction of $2,150,000.00. Following the completion of the sale, the director directly owned 516,275 shares in the company, valued at $44,399,650. The trade was a 4.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen T. Zarrilli sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $84.29, for a total value of $2,107,250.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 70,000 shares of company stock worth $5,659,850. Corporate insiders own 18.51% of the company’s stock.

Globus Medical Company 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.