Massachusetts Financial Services Co. MA Has $22.82 Million Stake in Globus Medical, Inc. $GMED

Massachusetts Financial Services Co. MA decreased its position in shares of Globus Medical, Inc. (NYSE:GMED) by 61.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,396 shares of the medical device company’s stock after selling 420,502 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Globus Medical were worth $22,822,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. BIP Wealth LLC acquired a new stake in shares of Globus Medical during the 4th quarter valued at $226,000. Sivik Global Healthcare LLC acquired a new stake in shares of Globus Medical during the 4th quarter valued at $3,492,000. AJ Advisors LLC acquired a new stake in shares of Globus Medical during the 4th quarter valued at $209,000. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Globus Medical by 8.1% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,898 shares of the medical device company’s stock valued at $340,000 after acquiring an additional 291 shares in the last quarter. Finally, Moody National Bank Trust Division acquired a new stake in shares of Globus Medical during the 4th quarter valued at $235,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Buying and Selling at Globus Medical

In other news, EVP Kelly Huller sold 20,000 shares of Globus Medical stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total value of $1,890,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 18.51% of the company’s stock.

Globus Medical Stock Down 0.5%

Shares of NYSE:GMED opened at $94.45 on Thursday. The firm has a market cap of $12.77 billion, a P/E ratio of 23.97, a P/E/G ratio of 2.22 and a beta of 1.09. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $101.40. The business has a fifty day simple moving average of $89.04 and a 200 day simple moving average of $83.18.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, February 24th. The medical device company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.22. The business had revenue of $826.42 million during the quarter, compared to analyst estimates of $803.29 million. Globus Medical had a return on equity of 12.57% and a net margin of 18.30%.Globus Medical’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same period last year, the company earned $0.84 EPS. As a group, equities research analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current year.

Wall Street Analysts Forecast Growth

GMED has been the topic of several recent research reports. Canaccord Genuity Group raised their price objective on Globus Medical from $105.00 to $112.00 and gave the company a “buy” rating in a report on Friday, January 9th. Wells Fargo & Company raised Globus Medical to a “strong-buy” rating in a report on Wednesday, March 18th. Wall Street Zen raised Globus Medical from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. BTIG Research reissued a “neutral” rating on shares of Globus Medical in a report on Tuesday, December 30th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Globus Medical in a research report on Thursday, January 8th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five 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 a consensus price target of $104.36.

Globus Medical 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.