Old West Investment Management LLC Sells 25,107 Shares of Globus Medical, Inc. $GMED

Old West Investment Management LLC lessened its position in shares of Globus Medical, Inc. (NYSE:GMED) by 20.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,252 shares of the medical device company’s stock after selling 25,107 shares during the period. Globus Medical comprises 1.9% of Old West Investment Management LLC’s holdings, making the stock its 19th largest position. Old West Investment Management LLC’s holdings in Globus Medical were worth $5,681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of GMED. Xponance Inc. raised its position in Globus Medical by 2.0% in the 1st quarter. Xponance Inc. now owns 13,151 shares of the medical device company’s stock valued at $963,000 after buying an additional 259 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Globus Medical by 94.5% during the 1st quarter. New York State Common Retirement Fund now owns 152,388 shares of the medical device company’s stock worth $11,155,000 after acquiring an additional 74,051 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of Globus Medical by 53.1% in the first quarter. Stephens Inc. AR now owns 5,406 shares of the medical device company’s stock valued at $396,000 after purchasing an additional 1,875 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Globus Medical by 25.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 605,770 shares of the medical device company’s stock worth $44,342,000 after purchasing an additional 122,417 shares in the last quarter. Finally, Whittier Trust Co. boosted its holdings in Globus Medical by 46.5% during the first quarter. Whittier Trust Co. now owns 580 shares of the medical device company’s stock worth $42,000 after purchasing an additional 184 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Globus Medical

In other Globus Medical news, Director Ann D. Rhoads sold 2,000 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $85.00, for a total transaction of $170,000.00. Following the completion of the sale, the director directly owned 15,384 shares in the company, valued at $1,307,640. This represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David D. Davidar sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were 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 in the company, valued at $44,399,650. This trade represents a 4.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 70,000 shares of company stock valued at $5,659,850. Company insiders own 18.54% of the company’s stock.

Globus Medical Trading Down 1.0%

Shares of NYSE GMED opened at $83.89 on Friday. The firm has a market cap of $11.33 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 1.68 and a beta of 1.15. Globus Medical, Inc. has a 1-year low of $51.79 and a 1-year high of $94.93. The business’s 50 day moving average is $61.83 and its 200-day moving average is $60.37.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Thursday, November 6th. The medical device company reported $1.18 EPS for the quarter, topping 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 business had revenue of $769.05 million for the quarter, compared to analyst estimates of $734.58 million. During the same period last year, the firm earned $0.83 earnings per share. Globus Medical’s revenue for the quarter 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. Analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current year.

Analyst Upgrades and Downgrades

GMED has been the topic of several analyst reports. Barclays boosted their price target on shares of Globus Medical from $106.00 to $114.00 and gave the stock an “overweight” rating in a research report on Monday. Stifel Nicolaus assumed coverage on Globus Medical in a report on Tuesday, October 28th. They set a “hold” rating and a $64.00 target price on the stock. 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 report on Friday, November 7th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research note on Monday, July 21st. Finally, Truist Financial raised Globus Medical from a “hold” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $93.00 in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $88.82.

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.