Globus Medical, Inc. $GMED Shares Sold by Mount Lucas Management LP

Mount Lucas Management LP reduced its stake in Globus Medical, Inc. (NYSE:GMED) by 11.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,594 shares of the medical device company’s stock after selling 1,101 shares during the period. Mount Lucas Management LP’s holdings in Globus Medical were worth $507,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC grew its stake in 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 worth $32,000 after purchasing an additional 393 shares in the last quarter. CENTRAL TRUST Co acquired a new stake in Globus Medical in the 2nd quarter valued at about $39,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Globus Medical by 202.6% in 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 buying an additional 383 shares during the period. Signaturefd LLC grew its position in shares of 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 buying an additional 279 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake 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 buying an additional 598 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Globus Medical Trading Down 1.0%

Shares of Globus Medical stock opened at $83.63 on Tuesday. The company has a fifty day simple moving average of $62.79 and a 200-day simple moving average of $60.38. The stock has a market cap of $11.19 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 1.68 and a beta of 1.15. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $94.93.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Thursday, November 6th. The medical device company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.39. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. The firm had revenue of $769.05 million during the quarter, compared to analysts’ expectations of $734.58 million. During the same period in the previous year, the company earned $0.83 earnings per share. Globus Medical’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. On average, analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GMED has been the subject of a number of recent research reports. Barclays lifted their price target on shares of Globus Medical from $106.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a report on Monday, July 21st. Bank of America upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $91.00 in a research note on Friday, November 7th. Wells Fargo & Company increased their target price on Globus Medical from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Zacks Research upgraded Globus Medical from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. One 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 stock. According to MarketBeat.com, Globus Medical has an average rating of “Moderate Buy” and a consensus price target of $88.82.

Insider Activity

In other 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 completion of the sale, the director directly owned 516,275 shares of the company’s stock, valued at approximately $44,399,650. The trade was a 4.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was 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. In the last three months, insiders sold 70,000 shares of company stock valued at $5,659,850. 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.