Massachusetts Financial Services Co. MA Has $22.82 Million Stake in Globus Medical, Inc. $GMED

Key Points

• Massachusetts Financial Services cut its stake in Globus Medical by 61.7% in Q4, selling 420,502 shares and leaving it with 261,396 shares valued at approximately $22.82 million (about 0.20% ownership).
• Globus Medical beat Q4 expectations, reporting $1.28 EPS versus $1.06 expected and revenue of $826.4 million, a 25.7% year-over-year increase.
• Corporate ownership is concentrated, with institutional investors holding 95.16% and insiders 18.51%; EVP Kelly Huller sold 20,000 shares at $94.50, and analysts show a consensus rating of "Moderate Buy" with a ~$104.36 target.

Massachusetts Financial Services Co. MA decreased its position in Globus Medical, Inc. (NYSE:GMED - Free Report) by 61.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 261,396 shares of the medical device company's stock after selling 420,502 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.20% of Globus Medical worth $22,822,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BIP Wealth LLC acquired a new position in shares of Globus Medical in the fourth quarter valued at approximately $226,000. Sivik Global Healthcare LLC bought a new stake in shares of Globus Medical in the fourth quarter valued at approximately $3,492,000. AJ Advisors LLC bought a new stake in shares of Globus Medical in the fourth quarter valued at approximately $209,000. Fifth Third Wealth Advisors LLC boosted its stake in shares of Globus Medical by 8.1% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,898 shares of the medical device company's stock valued at $340,000 after buying an additional 291 shares during the period. Finally, Moody National Bank Trust Division bought a new stake in shares of Globus Medical in the fourth quarter valued at approximately $235,000. Institutional investors and hedge funds own 95.16% of the company's stock.

Globus Medical Stock Performance

Shares of GMED stock opened at $94.45 on Thursday. The stock's fifty day moving average price is $89.04 and its two-hundred day moving average price is $83.18. The company has a market cap of $12.77 billion, a PE ratio of 23.97, a P/E/G ratio of 2.22 and a beta of 1.09. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week high of $101.40.

Globus Medical (NYSE:GMED - Get Free Report) last issued its earnings results on Tuesday, February 24th. The medical device company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates 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 revenue was up 25.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. On average, equities analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, EVP Kelly Huller sold 20,000 shares of the firm'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 sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 18.51% of the company's stock.

Analysts Set New Price Targets

GMED has been the subject of several recent research reports. Wall Street Zen upgraded Globus Medical from a "buy" rating to a "strong-buy" rating in a research note on Saturday, January 3rd. Royal Bank Of Canada boosted their price target on Globus Medical from $92.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, December 17th. BTIG Research reiterated a "neutral" rating on shares of Globus Medical in a research note on Tuesday, December 30th. TD Cowen upgraded Globus Medical to a "strong-buy" rating in a research note on Tuesday, January 27th. Finally, Truist Financial set a $115.00 price target on Globus Medical in a research note on Wednesday, February 25th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Globus Medical currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.36.

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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