Foresight Group Ltd Liability Partnership Raises Stake in Globus Medical, Inc. $GMED

Foresight Group Ltd Liability Partnership lifted its position in shares of Globus Medical, Inc. (NYSE:GMED) by 160.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 421,541 shares of the medical device company’s stock after buying an additional 259,870 shares during the period. Globus Medical accounts for approximately 3.6% of Foresight Group Ltd Liability Partnership’s portfolio, making the stock its 12th largest holding. Foresight Group Ltd Liability Partnership owned approximately 0.31% of Globus Medical worth $24,142,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GMED. EverSource Wealth Advisors LLC lifted its stake in shares of 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 purchasing an additional 197 shares during the period. Advisors Asset Management Inc. purchased a new position in Globus Medical during the second quarter worth about $28,000. First Horizon Corp acquired a new stake in Globus Medical in the 3rd quarter worth about $31,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Globus Medical in the 3rd quarter valued at about $36,000. Finally, CENTRAL TRUST Co acquired a new position in shares of Globus Medical during the 2nd quarter valued at about $39,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Globus Medical Price Performance

NYSE:GMED opened at $87.61 on Tuesday. The business’s 50-day moving average is $89.78 and its two-hundred day moving average is $73.08. The firm has a market capitalization of $11.73 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 1.35 and a beta of 1.06. Globus Medical, Inc. has a 12 month low of $51.79 and a 12 month high of $101.40.

Insider Buying and Selling

In other Globus Medical news, Director Leslie V. Norwalk sold 2,000 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $101.10, for a total value 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. This trade represents a 16.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David D. Davidar sold 25,000 shares of the business’s stock in a transaction on 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 approximately $44,399,650. The trade was a 4.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 56,636 shares of company stock worth $5,059,333 in the last 90 days. 18.54% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Citigroup reissued a “market perform” rating on shares of Globus Medical in a research report on Thursday, January 8th. Royal Bank Of Canada lifted their price target on shares of Globus Medical from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Canaccord Genuity Group upped their price objective on Globus Medical from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $115.00 target price (up from $90.00) on shares of Globus Medical in a research report on Thursday, January 8th. Finally, Zacks Research downgraded Globus Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. One equities research 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 company. According to MarketBeat, Globus Medical has an average rating of “Moderate Buy” and an average price target of $100.18.

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.