Bessemer Group Inc. Has $1.74 Million Holdings in Globus Medical, Inc. $GMED

Bessemer Group Inc. grew its position in Globus Medical, Inc. (NYSE:GMED) by 26.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 30,357 shares of the medical device company’s stock after acquiring an additional 6,400 shares during the period. Bessemer Group Inc.’s holdings in Globus Medical were worth $1,739,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of GMED. EverSource Wealth Advisors LLC increased its holdings in Globus Medical by 74.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after purchasing an additional 197 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Globus Medical during the second quarter worth about $28,000. First Horizon Corp acquired a new position in shares of Globus Medical in the third quarter valued at approximately $31,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Globus Medical in the 3rd quarter valued at approximately $36,000. Finally, CENTRAL TRUST Co acquired a new stake in Globus Medical during the 2nd quarter worth approximately $39,000. Institutional investors own 95.16% of the company’s stock.

Globus Medical Trading Up 0.5%

Shares of Globus Medical stock opened at $87.93 on Monday. The business has a 50-day moving average price of $89.82 and a two-hundred day moving average price of $72.84. Globus Medical, Inc. has a 1-year low of $51.79 and a 1-year high of $101.40. The company has a market cap of $11.77 billion, a P/E ratio of 28.36, a PEG ratio of 1.35 and a beta of 1.06.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, November 6th. The medical device company reported $1.18 EPS for the quarter, topping the consensus estimate of $0.79 by $0.39. Globus Medical had a return on equity of 11.52% and a net margin of 15.30%.The business had revenue of $769.05 million during the quarter, compared to analysts’ expectations of $734.58 million. During the same quarter last year, the firm posted $0.83 earnings per share. The firm’s revenue was up 22.9% on a year-over-year basis. Equities research analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GMED shares. BTIG Research restated a “neutral” rating on shares of Globus Medical in a research report on Tuesday, December 30th. Morgan Stanley raised their target price on Globus Medical from $70.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Truist Financial reiterated a “buy” rating and issued a $105.00 price target (up previously from $93.00) on shares of Globus Medical in a research report on Tuesday, November 18th. Stifel Nicolaus initiated coverage on Globus Medical in a research note on Tuesday, October 28th. They issued a “hold” rating and a $64.00 price target for the company. Finally, Wall Street Zen raised Globus Medical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.18.

Insider Activity

In related news, Director Stephen T. Zarrilli sold 25,000 shares of the stock in a transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Leslie V. Norwalk sold 2,000 shares of the firm’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $101.10, for a total transaction of $202,200.00. Following the completion of the sale, the director owned 10,419 shares of the company’s stock, valued at $1,053,360.90. The trade was a 16.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 81,636 shares of company stock worth $7,166,583. Company insiders own 18.54% of the company’s stock.

Globus Medical 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.