Globus Medical, Inc. $GMED Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ decreased its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 21.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 20,700 shares of the medical device company’s stock after selling 5,800 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Globus Medical were worth $1,185,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Burgundy Asset Management Ltd. lifted its stake in Globus Medical by 24.3% during the second quarter. Burgundy Asset Management Ltd. now owns 3,481,438 shares of the medical device company’s stock valued at $205,474,000 after purchasing an additional 679,691 shares during the last quarter. Sculptor Capital LP increased its holdings in shares of Globus Medical by 31.9% in the second quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company’s stock valued at $162,936,000 after buying an additional 667,850 shares in the last quarter. Geneva Capital Management LLC lifted its position in shares of Globus Medical by 13.6% during the 2nd quarter. Geneva Capital Management LLC now owns 2,082,788 shares of the medical device company’s stock valued at $122,926,000 after acquiring an additional 249,141 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Globus Medical by 89.7% during the 2nd quarter. Marshall Wace LLP now owns 1,580,476 shares of the medical device company’s stock worth $93,280,000 after acquiring an additional 747,330 shares in the last quarter. Finally, AXA S.A. grew its holdings in shares of Globus Medical by 9.0% in the 2nd quarter. AXA S.A. now owns 1,528,531 shares of the medical device company’s stock worth $90,214,000 after acquiring an additional 126,326 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Price Performance

Shares of GMED opened at $90.58 on Friday. The business’s 50-day moving average is $89.84 and its 200-day moving average is $75.17. The company has a market capitalization of $12.12 billion, a price-to-earnings ratio of 29.22, a P/E/G ratio of 1.39 and a beta of 1.06. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week high of $101.40.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, EVP Kelly Huller sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $87.67, for a total value of $876,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leslie V. Norwalk sold 2,000 shares of Globus Medical stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $101.10, for a total transaction of $202,200.00. Following the sale, the director directly owned 10,419 shares of the company’s stock, valued at $1,053,360.90. This trade represents a 16.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 41,636 shares of company stock worth $3,786,033. 18.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GMED shares. Bank of America raised Globus Medical from a “neutral” rating to a “buy” rating and upped their target price for the company from $65.00 to $91.00 in a report on Friday, November 7th. Piper Sandler reaffirmed an “overweight” rating and set a $115.00 price objective (up from $90.00) on shares of Globus Medical in a research note on Thursday, January 8th. Morgan Stanley lifted their target price on shares of Globus Medical from $70.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Canaccord Genuity Group boosted their price target on shares of Globus Medical from $105.00 to $112.00 and gave the company a “buy” rating in a report on Friday, January 9th. Finally, Wall Street Zen raised shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.18.

Globus Medical Company 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.