Candriam S.C.A. Sells 43,909 Shares of Globus Medical, Inc. $GMED

Candriam S.C.A. cut its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 25.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 127,929 shares of the medical device company’s stock after selling 43,909 shares during the quarter. Candriam S.C.A. owned approximately 0.09% of Globus Medical worth $7,326,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in GMED. Burgundy Asset Management Ltd. lifted its holdings in Globus Medical by 24.3% during the 2nd 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 grew its stake in Globus Medical by 31.9% during the second quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company’s stock worth $162,936,000 after buying an additional 667,850 shares during the last quarter. William Blair Investment Management LLC grew its stake in Globus Medical by 5.8% during the second quarter. William Blair Investment Management LLC now owns 2,405,031 shares of the medical device company’s stock worth $141,945,000 after buying an additional 131,244 shares during the last quarter. Geneva Capital Management LLC increased its holdings in shares of Globus Medical by 13.6% during the second 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, Marshall Wace LLP raised its stake in shares of Globus Medical by 89.7% in the second quarter. Marshall Wace LLP now owns 1,580,476 shares of the medical device company’s stock valued at $93,280,000 after acquiring an additional 747,330 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GMED shares. Canaccord Genuity Group increased their price target on Globus Medical from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Wall Street Zen upgraded Globus Medical from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. TD Cowen raised Globus Medical to a “strong-buy” rating in a report on Tuesday, January 27th. Needham & Company LLC raised shares of Globus Medical from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a report on Friday, January 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $115.00 price objective (up previously from $90.00) on shares of Globus Medical in a research report on Thursday, January 8th. One 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.18.

Globus Medical Stock Performance

Shares of GMED stock opened at $88.57 on Wednesday. The firm’s 50 day moving average price is $89.77 and its two-hundred day moving average price is $73.32. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $101.40. The stock has a market cap of $11.85 billion, a PE ratio of 28.57, a PEG ratio of 1.34 and a beta of 1.06.

Insider Transactions at Globus Medical

In other Globus Medical news, SVP Kelly Huller sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $90.00, for a total transaction of $675,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kyle Kline sold 18,542 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $90.00, for a total value of $1,668,780.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,636 shares of company stock worth $2,909,333 in the last three months. Insiders own 18.54% of the company’s stock.

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.