Lecap Asset Management Ltd. Makes New $1.20 Million Investment in Globus Medical, Inc. $GMED

Key Points

• Lecap Asset Management opened a new position in Globus Medical in Q4, purchasing 13,778 shares valued at approximately $1.20 million.
• Several large institutions (William Blair, Sculptor, AllianceBernstein, Dimensional, Marshall Wace) significantly increased holdings, and hedge funds/institutional investors now own about 95.16% of the stock.
• Globus beat Q4 estimates with EPS of $1.28 and revenue up 25.7% year-over-year; analysts are generally bullish with a "Moderate Buy" consensus and an average target of $104.36.

Lecap Asset Management Ltd. acquired a new position in Globus Medical, Inc. (NYSE:GMED - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 13,778 shares of the medical device company's stock, valued at approximately $1,203,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. William Blair Investment Management LLC lifted its holdings in Globus Medical by 17.2% in the third quarter. William Blair Investment Management LLC now owns 2,819,165 shares of the medical device company's stock worth $161,454,000 after buying an additional 414,134 shares during the period. Sculptor Capital LP lifted its holdings in Globus Medical by 31.9% in the second quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company's stock worth $162,936,000 after buying an additional 667,850 shares during the period. Alliancebernstein L.P. lifted its holdings in Globus Medical by 1,303.9% in the third quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company's stock worth $117,700,000 after buying an additional 1,908,795 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Globus Medical by 72.1% in the third quarter. Dimensional Fund Advisors LP now owns 2,011,104 shares of the medical device company's stock worth $115,166,000 after buying an additional 842,547 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Globus Medical by 8.3% in the third quarter. Marshall Wace LLP now owns 1,711,909 shares of the medical device company's stock worth $98,041,000 after buying an additional 131,433 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Kelly Huller sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $94.50, for a total value of $1,890,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 18.51% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GMED has been the subject of several research analyst reports. Piper Sandler restated an "overweight" rating and issued a $115.00 price objective (up from $90.00) on shares of Globus Medical in a report on Thursday, January 8th. Wells Fargo & Company upgraded shares of Globus Medical to a "strong-buy" rating in a report on Wednesday, March 18th. Canaccord Genuity Group lifted their target price on shares of Globus Medical from $105.00 to $112.00 and gave the company a "buy" rating in a report on Friday, January 9th. Citigroup reiterated a "market perform" rating on shares of Globus Medical in a report on Thursday, January 8th. Finally, TD Cowen upgraded shares of Globus Medical to a "strong-buy" rating in a report on Tuesday, January 27th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $104.36.

Globus Medical Stock Performance

GMED stock opened at $95.35 on Friday. The firm has a 50 day moving average price of $89.30 and a 200-day moving average price of $83.70. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $101.40. The firm has a market capitalization of $12.90 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 2.17 and a beta of 1.09.

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, beating 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 firm had revenue of $826.42 million during the quarter, compared to analyst estimates of $803.29 million. During the same period last year, the business earned $0.84 earnings per share. The business's revenue was up 25.7% on a year-over-year basis. As a group, sell-side analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

About Globus Medical

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.

Want to see what other hedge funds are holding GMED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globus Medical, Inc. (NYSE:GMED - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.