ANTIPODES PARTNERS Ltd Purchases 889,229 Shares of Globus Medical, Inc. $GMED

ANTIPODES PARTNERS Ltd increased its position in Globus Medical, Inc. (NYSE:GMED) by 49,020.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 891,043 shares of the medical device company’s stock after buying an additional 889,229 shares during the quarter. ANTIPODES PARTNERS Ltd’s holdings in Globus Medical were worth $51,034,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of GMED. Burgundy Asset Management Ltd. lifted its position in shares of 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 in the last quarter. Sculptor Capital LP grew its position in shares of 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 purchasing an additional 667,850 shares in the last quarter. Geneva Capital Management LLC raised its stake in 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 valued at $122,926,000 after purchasing an additional 249,141 shares during the period. Marshall Wace LLP raised its position in shares of Globus Medical by 89.7% during 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 buying an additional 747,330 shares during the last quarter. Finally, AXA S.A. lifted its stake in Globus Medical by 9.0% in the 2nd quarter. AXA S.A. now owns 1,528,531 shares of the medical device company’s stock worth $90,214,000 after purchasing an additional 126,326 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Kelly Huller sold 10,000 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $87.67, for a total transaction of $876,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Leslie V. Norwalk sold 2,000 shares of the company’s stock in a transaction dated 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 directly owned 10,419 shares of the company’s stock, valued at approximately $1,053,360.90. This trade represents a 16.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 41,636 shares of company stock worth $3,786,033. 18.51% of the stock is currently owned by company insiders.

Globus Medical Price Performance

GMED stock opened at $90.58 on Friday. The firm’s 50-day moving average is $89.84 and its 200 day moving average is $75.02. Globus Medical, Inc. has a 12 month low of $51.79 and a 12 month high of $101.40. The company has a market capitalization of $12.12 billion, a PE ratio of 29.22, a P/E/G ratio of 1.39 and a beta of 1.06.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GMED. Wall Street Zen upgraded Globus Medical from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Truist Financial restated a “buy” rating and set a $105.00 price target (up previously from $93.00) on shares of Globus Medical in a report on Tuesday, November 18th. Royal Bank Of Canada lifted their price objective on Globus Medical from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Stifel Nicolaus began coverage on Globus Medical in a research report on Tuesday, October 28th. They set a “hold” rating and a $64.00 target price for the company. Finally, Piper Sandler reissued an “overweight” rating and issued a $115.00 target price (up from $90.00) on shares of Globus Medical in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Globus Medical presently has an average rating of “Moderate Buy” and an average target price 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.