235,617 Shares in Globus Medical, Inc. $GMED Acquired by Annex Advisory Services LLC

Key Points

• Annex Advisory Services LLC purchased a new position of 235,617 shares of Globus Medical, valued at about $20.57 million, representing roughly 0.18% of the company.
• Globus Medical beat quarterly estimates with EPS of $1.28 (vs. $1.06 expected) and revenue of $826.42 million (up 25.7% YoY), and analysts have raised targets leading to a consensus "Moderate Buy" rating and an average price target of $104.36.
• The stock is highly institutionally held (reported 95.16% by hedge funds/institutions), while corporate insiders own 18.54%, and EVP Kelly Huller sold 20,000 shares at $94.50 for about $1.89 million.

Annex Advisory Services LLC purchased a new position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 235,617 shares of the medical device company's stock, valued at approximately $20,572,000. Annex Advisory Services LLC owned approximately 0.18% of Globus Medical as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Andrew Hill Investment Advisors Inc. purchased a new stake in shares of Globus Medical during the fourth quarter worth approximately $3,605,000. BIP Wealth LLC purchased a new stake in shares of Globus Medical during the fourth quarter worth approximately $226,000. Sivik Global Healthcare LLC purchased a new stake in shares of Globus Medical during the fourth quarter worth approximately $3,492,000. AJ Advisors LLC purchased a new stake in shares of Globus Medical during the fourth quarter worth approximately $209,000. Finally, Fifth Third Wealth Advisors LLC boosted its stake in Globus Medical by 8.1% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,898 shares of the medical device company's stock worth $340,000 after buying an additional 291 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Globus Medical Trading Up 2.1%

GMED stock opened at $94.94 on Wednesday. The company has a market capitalization of $12.84 billion, a PE ratio of 24.10, a P/E/G ratio of 2.17 and a beta of 1.09. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $101.40. The business's fifty day moving average price is $88.90 and its 200 day moving average price is $83.10.

Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The medical device company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.22. The firm had revenue of $826.42 million for the quarter, compared to the consensus estimate of $803.29 million. Globus Medical had a return on equity of 12.57% and a net margin of 18.30%.The company's quarterly revenue was up 25.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 EPS. Research analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on GMED. Canaccord Genuity Group boosted their price objective on Globus Medical from $105.00 to $112.00 and gave the stock a "buy" rating in a research note on Friday, January 9th. Royal Bank Of Canada boosted 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. Citigroup reissued a "market perform" rating on shares of Globus Medical in a research note on Thursday, January 8th. Wall Street Zen raised Globus Medical from a "buy" rating to a "strong-buy" rating in a research note on Saturday, January 3rd. Finally, Truist Financial set a $115.00 price objective on Globus Medical in a research note on Wednesday, February 25th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Globus Medical currently has a consensus rating of "Moderate Buy" and an average price target of $104.36.

Insider Activity

In related news, EVP Kelly Huller sold 20,000 shares of the business's stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total value of $1,890,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate 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.

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