Globus Medical, Inc. $GMED Shares Sold by Old West Investment Management LLC

Old West Investment Management LLC trimmed its holdings in Globus Medical, Inc. (NYSE:GMED) by 20.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,252 shares of the medical device company’s stock after selling 25,107 shares during the quarter. Globus Medical accounts for about 1.9% of Old West Investment Management LLC’s portfolio, making the stock its 19th biggest holding. Old West Investment Management LLC owned 0.07% of Globus Medical worth $5,681,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Larson Financial Group LLC lifted its stake in Globus Medical by 1,007.7% during the first quarter. Larson Financial Group LLC now owns 432 shares of the medical device company’s stock valued at $32,000 after purchasing an additional 393 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Globus Medical by 202.6% during 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 purchasing an additional 383 shares during the period. Whittier Trust Co. lifted its stake in Globus Medical by 46.5% in the 1st quarter. Whittier Trust Co. now owns 580 shares of the medical device company’s stock worth $42,000 after acquiring an additional 184 shares in the last quarter. CENTRAL TRUST Co purchased a new stake in shares of Globus Medical in the second quarter worth approximately $39,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Globus Medical by 237.3% during the first quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock worth $62,000 after purchasing an additional 598 shares during the period. Institutional investors own 95.16% of the company’s stock.

Globus Medical Price Performance

NYSE:GMED opened at $83.89 on Friday. Globus Medical, Inc. has a one year low of $51.79 and a one year high of $94.93. The company has a fifty day moving average price of $61.83 and a 200 day moving average price of $60.37. The stock has a market cap of $11.33 billion, a P/E ratio of 32.27, a PEG ratio of 1.68 and a beta of 1.15.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Thursday, November 6th. The medical device company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.39. The company had revenue of $769.05 million during the quarter, compared to the consensus estimate of $734.58 million. Globus Medical had a return on equity of 10.65% and a net margin of 13.58%.The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. As a group, equities research analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.

Insider Activity

In related news, Director Stephen T. Zarrilli sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $84.29, for a total transaction of $2,107,250.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ann D. Rhoads sold 10,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $58.46, for a total transaction of $584,600.00. Following the sale, the director directly owned 25,384 shares in the company, valued at approximately $1,483,948.64. This represents a 28.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 70,000 shares of company stock worth $5,659,850. Insiders own 18.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank Of Canada lifted their price objective on Globus Medical from $88.00 to $92.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Zacks Research upgraded Globus Medical from a “hold” rating to a “strong-buy” rating in a report on Monday. Canaccord Genuity Group dropped their price objective on Globus Medical from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 22nd. Bank of America raised shares of Globus Medical from a “neutral” rating to a “buy” rating and raised their price objective for the company from $65.00 to $91.00 in a research report on Friday, November 7th. Finally, Wells Fargo & Company boosted their target price on shares of Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.82.

About Globus Medical

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.