Pembroke Management LTD Sells 38,745 Shares of Globus Medical, Inc. $GMED

Pembroke Management LTD lowered its position in Globus Medical, Inc. (NYSE:GMED) by 6.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 562,190 shares of the medical device company’s stock after selling 38,745 shares during the quarter. Globus Medical accounts for approximately 3.2% of Pembroke Management LTD’s investment portfolio, making the stock its 12th largest position. Pembroke Management LTD owned approximately 0.42% of Globus Medical worth $32,197,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in Globus Medical by 74.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after acquiring an additional 197 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in shares of Globus Medical during the second quarter worth $28,000. First Horizon Corp acquired a new position in shares of Globus Medical during the third quarter worth $31,000. CENTRAL TRUST Co bought a new stake in shares of Globus Medical in the second quarter worth $39,000. Finally, Headlands Technologies LLC increased its holdings in Globus Medical by 485.4% in the second quarter. Headlands Technologies LLC now owns 761 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 631 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Globus Medical

In other news, Director Stephen T. Zarrilli sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $84.29, for a total transaction of $2,107,250.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David D. Davidar sold 25,000 shares of the 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 transaction, the director directly owned 516,275 shares in the company, valued at $44,399,650. This trade represents a 4.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 91,636 shares of company stock worth $7,984,583 over the last ninety days. 18.51% of the stock is owned by corporate insiders.

Globus Medical Price Performance

NYSE GMED opened at $93.60 on Friday. The stock has a market capitalization of $12.53 billion, a P/E ratio of 30.19, a P/E/G ratio of 1.57 and a beta of 1.06. The business has a 50 day simple moving average of $88.43 and a 200 day simple moving average of $69.06. Globus Medical, Inc. has a one year low of $51.79 and a one year high of $101.40.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Thursday, November 6th. The medical device company reported $1.18 earnings per share (EPS) 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 return on equity of 11.52% and a net margin of 15.30%.The company’s revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 earnings per share. 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 year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Bank of America raised Globus Medical from a “neutral” rating to a “buy” rating and increased their price target for the company from $65.00 to $91.00 in a research note on Friday, November 7th. Canaccord Genuity Group lifted their price objective on Globus Medical from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Morgan Stanley upped their target price on Globus Medical from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Finally, Truist Financial reissued a “buy” rating and set a $105.00 target price (up previously from $93.00) on shares of Globus Medical in a research report on Tuesday, November 18th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and an average price target of $97.78.

About Globus Medical

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.