Paradice Investment Management LLC Cuts Holdings in Globus Medical, Inc. $GMED

Key Points

• Paradice Investment Management reduced its stake in Globus Medical by 20.4% in Q4, selling 134,983 shares and leaving it with 528,055 shares (~$46.1M), which remains the firm's largest holding (~9% of its portfolio).
• Globus Medical posted stronger-than-expected Q results with EPS $1.28 vs. $1.06 and revenue $826.4M (up 25.7% YoY), signaling solid growth momentum.
• Analysts have raised ratings and targets recently (Barclays, Needham, Canaccord, Wells Fargo), leaving the stock with a consensus price target of $104.36 and an overall "Moderate Buy" rating.

Paradice Investment Management LLC reduced its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 20.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 528,055 shares of the medical device company's stock after selling 134,983 shares during the quarter. Globus Medical makes up about 9.0% of Paradice Investment Management LLC's holdings, making the stock its biggest holding. Paradice Investment Management LLC owned about 0.39% of Globus Medical worth $46,104,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of GMED. Advisory Services Network LLC purchased a new position in shares of Globus Medical during the third quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its holdings in Globus Medical by 74.3% in the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company's stock worth $27,000 after buying an additional 197 shares during the period. First Horizon Corp purchased a new stake in Globus Medical in the third quarter worth about $31,000. Parallel Advisors LLC boosted its position in Globus Medical by 45.1% during the 3rd 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. bought a new stake in Globus Medical during the 3rd quarter valued at approximately $36,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Globus Medical Stock Performance

Shares of NYSE GMED opened at $94.49 on Friday. The company has a 50 day simple moving average of $89.86 and a two-hundred day simple moving average of $84.52. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week high of $101.40. The company has a market capitalization of $12.78 billion, a price-to-earnings ratio of 23.98, a P/E/G ratio of 2.22 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 analysts' consensus estimates of $1.06 by $0.22. The firm had revenue of $826.42 million for the quarter, compared to analysts' expectations of $803.29 million. Globus Medical had a return on equity of 12.57% and a net margin of 18.30%.The business's revenue for the quarter was up 25.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. On average, analysts forecast that Globus Medical, Inc. will post 4.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

GMED has been the topic of a number of research analyst reports. Wall Street Zen upgraded Globus Medical from a "buy" rating to a "strong-buy" rating in a report on Saturday, January 3rd. Barclays lifted their price target on Globus Medical from $118.00 to $123.00 and gave the company an "overweight" rating in a research report on Wednesday, February 25th. Needham & Company LLC upped their price target on Globus Medical from $112.00 to $114.00 and gave the stock a "buy" rating in a research note on Wednesday, February 25th. Canaccord Genuity Group increased their price objective on Globus Medical from $105.00 to $112.00 and gave the stock a "buy" rating in a report on Friday, January 9th. Finally, Wells Fargo & Company raised Globus Medical to a "strong-buy" rating in a research report on Wednesday, March 18th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $104.36.

Insider Transactions at Globus Medical

In other Globus Medical 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 available through the SEC website. Insiders own 18.51% of the company's stock.

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.

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