Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in Globus Medical, Inc. $GMED

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 26.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,636 shares of the medical device company’s stock after purchasing an additional 2,196 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Globus Medical were worth $628,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC grew its stake in shares of Globus Medical by 1,007.7% during the 1st quarter. Larson Financial Group LLC now owns 432 shares of the medical device company’s stock valued at $32,000 after buying an additional 393 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Globus Medical by 202.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 572 shares of the medical device company’s stock valued at $42,000 after acquiring an additional 383 shares during the last quarter. Whittier Trust Co. boosted its holdings in Globus Medical by 46.5% in the first quarter. Whittier Trust Co. now owns 580 shares of the medical device company’s stock valued at $42,000 after acquiring an additional 184 shares during the last quarter. Jones Financial Companies Lllp grew its position in Globus Medical by 237.3% during the first quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock valued at $62,000 after acquiring an additional 598 shares during the period. Finally, Signaturefd LLC increased its stake in Globus Medical by 41.1% during the second quarter. Signaturefd LLC now owns 958 shares of the medical device company’s stock worth $57,000 after acquiring an additional 279 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Up 0.4%

GMED opened at $84.34 on Friday. The firm’s 50 day moving average is $62.30 and its 200-day moving average is $60.45. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $94.93. The firm has a market capitalization of $11.39 billion, a P/E ratio of 32.44, a P/E/G ratio of 1.68 and a beta of 1.15.

Globus Medical (NYSE:GMED) last announced its earnings results 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. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. The business had revenue of $769.05 million during the quarter, compared to the consensus estimate of $734.58 million. During the same period in the prior year, the firm earned $0.83 earnings per share. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. 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 fiscal year.

Analyst Upgrades and Downgrades

GMED has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Globus Medical in a research note on Wednesday, October 8th. Barclays increased their target price on shares of Globus Medical from $106.00 to $114.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Royal Bank Of Canada lifted their price target on shares of Globus Medical from $88.00 to $92.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Stifel Nicolaus assumed coverage on shares of Globus Medical in a research note on Tuesday, October 28th. They set a “hold” rating and a $64.00 price objective for the company. Finally, Canaccord Genuity Group cut their target price on shares of Globus Medical from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.82.

Insider Transactions at Globus Medical

In related news, Director David D. Davidar sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $86.00, for a total value of $2,150,000.00. Following the transaction, the director owned 516,275 shares in the company, valued at approximately $44,399,650. The trade was a 4.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen T. Zarrilli sold 25,000 shares of the firm’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 have sold 70,000 shares of company stock valued at $5,659,850. 18.51% of the stock is currently owned by insiders.

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.