Voya Investment Management LLC Sells 7,917 Shares of Globus Medical, Inc. $GMED

Voya Investment Management LLC cut its position in Globus Medical, Inc. (NYSE:GMED) by 22.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,979 shares of the medical device company’s stock after selling 7,917 shares during the quarter. Voya Investment Management LLC’s holdings in Globus Medical were worth $1,545,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GMED. Burgundy Asset Management Ltd. increased its stake in Globus Medical by 24.3% in 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 acquiring an additional 679,691 shares during the last quarter. Sculptor Capital LP boosted its holdings in shares of Globus Medical by 31.9% in the 2nd quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company’s stock valued at $162,936,000 after purchasing an additional 667,850 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Globus Medical by 5.8% in the 2nd quarter. William Blair Investment Management LLC now owns 2,405,031 shares of the medical device company’s stock valued at $141,945,000 after purchasing an additional 131,244 shares during the last quarter. Geneva Capital Management LLC raised its holdings 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 worth $122,926,000 after buying an additional 249,141 shares in the last quarter. Finally, Hawk Ridge Capital Management LP lifted its position in shares of Globus Medical by 0.3% during the 1st quarter. Hawk Ridge Capital Management LP now owns 1,680,075 shares of the medical device company’s stock worth $122,981,000 after buying an additional 4,564 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, 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 transaction of $2,107,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David D. Davidar sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $86.00, for a total transaction of $2,150,000.00. Following the completion of the sale, the director directly owned 516,275 shares in the company, valued at approximately $44,399,650. This represents a 4.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 86,042 shares of company stock worth $7,419,030. Company insiders own 18.54% of the company’s stock.

Globus Medical Stock Down 0.1%

Shares of NYSE:GMED opened at $88.36 on Tuesday. The firm has a market cap of $11.83 billion, a P/E ratio of 28.50, a P/E/G ratio of 1.63 and a beta of 1.06. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $94.93. The business has a fifty day simple moving average of $80.72 and a 200 day simple moving average of $65.98.

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, beating analysts’ consensus estimates of $0.79 by $0.39. Globus Medical had a return on equity of 11.52% and a net margin of 15.30%.The firm had revenue of $769.05 million for the quarter, compared to analyst estimates of $734.58 million. During the same quarter in the previous year, the company posted $0.83 EPS. The business’s revenue was up 22.9% on a year-over-year basis. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. As a group, equities research analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Truist Financial reiterated a “buy” rating and issued a $105.00 target price (up previously from $93.00) on shares of Globus Medical in a research report on Tuesday, November 18th. Canaccord Genuity Group raised their price target on shares of Globus Medical from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Barclays lifted their price target on shares of Globus Medical from $106.00 to $114.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Wells Fargo & Company increased their price objective on shares of Globus Medical from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Globus Medical in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.11.

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.