Cambiar Investors LLC Decreases Holdings in Globus Medical, Inc. $GMED

Key Points

• Cambiar Investors LLC trimmed its stake in Globus Medical by 30.0% in Q4 and now owns 81,544 shares valued at about $7.12 million, while institutional investors hold roughly 95.16% of the stock.
• EVP Kelly Huller sold 20,000 shares on February 25 at an average price of $94.50 for proceeds of about $1.89 million, and insiders collectively own 18.51% of the company.
• Globus Medical reported a strong quarter with $1.28 EPS (vs. $1.06 expected) and revenue of $826.4 million, up 25.7% year-over-year; analysts maintain a consensus "Moderate Buy" with an average target of $104.36.

Cambiar Investors LLC trimmed its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 30.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,544 shares of the medical device company's stock after selling 34,936 shares during the period. Cambiar Investors LLC owned 0.06% of Globus Medical worth $7,120,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new stake in Globus Medical during the 3rd quarter worth $26,000. EverSource Wealth Advisors LLC boosted its position in 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. First Horizon Corp purchased a new position in Globus Medical in the 3rd quarter valued at about $31,000. Parallel Advisors LLC grew its stake in shares of Globus Medical by 45.1% during the third quarter. Parallel Advisors LLC now owns 557 shares of the medical device company's stock valued at $32,000 after acquiring an additional 173 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Globus Medical during the third quarter valued at about $36,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Truist Financial set a $115.00 target price on Globus Medical in a research note on Wednesday, February 25th. Wells Fargo & Company upgraded Globus Medical to a "strong-buy" rating in a research note on Wednesday, March 18th. Needham & Company LLC raised their target price on Globus Medical from $112.00 to $114.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. Wall Street Zen upgraded Globus Medical from a "buy" rating to a "strong-buy" rating in a research note on Saturday, January 3rd. Finally, Zacks Research upgraded Globus Medical from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 3rd. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $104.36.

Insider Activity at Globus Medical

In other news, EVP Kelly Huller sold 20,000 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $94.50, for a total transaction of $1,890,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 18.51% of the company's stock.

Globus Medical Stock Performance

Shares of GMED stock opened at $90.51 on Friday. Globus Medical, Inc. has a one year low of $51.79 and a one year high of $101.40. The company's 50-day simple moving average is $88.68 and its 200-day simple moving average is $82.37. The stock has a market capitalization of $12.24 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 2.11 and a beta of 1.09.

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

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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