Globus Medical, Inc. $GMED Shares Purchased by Comerica Bank

Key Points

• Comerica Bank increased its stake in Globus Medical by 36.4% in Q4, owning 69,943 shares valued at about $6,107,000 after purchasing an additional 18,670 shares.
• Globus Medical beat expectations for the quarter with $1.28 EPS versus $1.06 expected and revenue of $826.4M (up 25.7% YoY), driving recent positive momentum in the stock.
• EVP Kelly Huller sold 20,000 shares for roughly $1.89M; institutional investors hold about 95.16% of the stock and analysts have a consensus "Moderate Buy" rating with a $104.36 price target.

Comerica Bank boosted its stake in Globus Medical, Inc. (NYSE:GMED - Free Report) by 36.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,943 shares of the medical device company's stock after buying an additional 18,670 shares during the period. Comerica Bank owned 0.05% of Globus Medical worth $6,107,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new position in shares of Globus Medical during the third quarter valued at $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Globus Medical by 74.3% during the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company's stock valued at $27,000 after purchasing an additional 197 shares during the period. First Horizon Corp acquired a new position in shares of Globus Medical during the third quarter valued at $31,000. Parallel Advisors LLC increased its holdings 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 purchasing an additional 173 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Globus Medical during the third quarter valued at $36,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. TD Cowen raised Globus Medical to a "strong-buy" rating in a report on Tuesday, January 27th. Canaccord Genuity Group raised their price target on Globus Medical from $105.00 to $112.00 and gave the company a "buy" rating in a report on Friday, January 9th. Needham & Company LLC raised their price target on Globus Medical from $112.00 to $114.00 and gave the company a "buy" rating in a report on Wednesday, February 25th. Wells Fargo & Company raised Globus Medical to a "strong-buy" rating in a report on Wednesday, March 18th. Finally, Citigroup reissued a "market perform" rating on shares of Globus Medical in a report on Thursday, January 8th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Globus Medical currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.36.

Insider Transactions at Globus Medical

In related news, EVP Kelly Huller sold 20,000 shares of Globus Medical stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total transaction of $1,890,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 18.51% of the stock is currently owned by insiders.

Globus Medical Stock Up 2.7%

NYSE:GMED opened at $90.17 on Friday. The business's 50-day moving average price is $90.09 and its 200 day moving average price is $85.64. The firm has a market cap of $12.19 billion, a P/E ratio of 22.88, a PEG ratio of 2.05 and a beta of 1.09. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $101.40.

Globus Medical (NYSE:GMED - Get Free Report) last released its earnings results on Tuesday, February 24th. The medical device company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.22. The firm had revenue of $826.42 million for the quarter, compared to analyst estimates of $803.29 million. Globus Medical had a return on equity of 12.57% and a net margin of 18.30%.Globus Medical's revenue was up 25.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 earnings per share. Sell-side analysts expect that Globus Medical, Inc. will post 4.46 EPS for the current year.

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.

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