Rhumbline Advisers Sells 9,227 Shares of Globus Medical, Inc. $GMED

Rhumbline Advisers lessened its position in shares of Globus Medical, Inc. (NYSE:GMED) by 3.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 281,944 shares of the medical device company’s stock after selling 9,227 shares during the quarter. Rhumbline Advisers’ holdings in Globus Medical were worth $16,147,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GMED. AQR Capital Management LLC raised its holdings in Globus Medical by 45.9% during the 1st quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company’s stock worth $1,622,000 after purchasing an additional 7,086 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Globus Medical by 33.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company’s stock worth $320,000 after buying an additional 1,085 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Globus Medical by 38.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company’s stock worth $2,228,000 after buying an additional 8,540 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Globus Medical by 237.3% during the first quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock worth $62,000 after buying an additional 598 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Globus Medical by 8.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,527 shares of the medical device company’s stock valued at $25,439,000 after buying an additional 28,027 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on GMED shares. Truist Financial reiterated a “buy” rating and set a $105.00 target price (up previously from $93.00) on shares of Globus Medical in a research report on Tuesday, November 18th. Wall Street Zen upgraded Globus Medical from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Zacks Research lowered Globus Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Bank of America upgraded Globus Medical from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $91.00 in a research report on Friday, November 7th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Globus Medical in a research note on Tuesday, December 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.18.

Insider Buying and Selling at Globus Medical

In related news, CFO Kyle Kline sold 18,542 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $90.00, for a total transaction of $1,668,780.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kelly Huller sold 10,000 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $87.67, for a total transaction of $876,700.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 41,636 shares of company stock valued at $3,786,033. 18.51% of the stock is currently owned by corporate insiders.

Globus Medical Price Performance

NYSE:GMED opened at $90.19 on Thursday. The business’s 50-day simple moving average is $89.72 and its 200-day simple moving average is $74.65. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week high of $101.40. The stock has a market capitalization of $12.07 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 1.36 and a beta of 1.06.

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.