Universal Beteiligungs und Servicegesellschaft mbH Trims Stake in Globus Medical, Inc. $GMED

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH trimmed its stake in Globus Medical by 48.3% in Q4, selling 68,188 shares and retaining 73,014 shares worth about $6.38 million.
• Globus Medical beat Q4 estimates, reporting EPS of $1.28 vs. $1.06 expected and revenue of $826.4M (up 25.7% year-over-year), underpinning a market cap near $12.7B.
• Several analysts raised ratings and targets—multiple firms issued "strong-buy"/"buy" calls—leaving a consensus rating of Moderate Buy and a consensus price target of $104.36.

Universal Beteiligungs und Servicegesellschaft mbH reduced its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 48.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,014 shares of the medical device company's stock after selling 68,188 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.05% of Globus Medical worth $6,375,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GMED. Alliancebernstein L.P. increased its stake in shares of 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 purchasing an additional 1,908,795 shares in the last quarter. Boston Trust Walden Corp purchased a new stake in shares of Globus Medical in the third quarter worth $67,891,000. ANTIPODES PARTNERS Ltd increased its stake in shares of Globus Medical by 49,020.3% in the third quarter. ANTIPODES PARTNERS Ltd now owns 891,043 shares of the medical device company's stock worth $51,034,000 after purchasing an additional 889,229 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of 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 purchasing an additional 842,547 shares in the last quarter. Finally, Vestal Point Capital LP increased its stake in shares of Globus Medical by 150.0% in the third quarter. Vestal Point Capital LP now owns 1,250,000 shares of the medical device company's stock worth $71,588,000 after purchasing an additional 750,000 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GMED shares. Needham & Company LLC raised their target price on shares of Globus Medical from $112.00 to $114.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. Wells Fargo & Company raised shares of Globus Medical to a "strong-buy" rating in a research note on Wednesday, March 18th. Barclays raised their target price on shares of Globus Medical from $118.00 to $123.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. Truist Financial set a $115.00 target price on shares of Globus Medical in a research note on Wednesday, February 25th. Finally, TD Cowen raised shares of Globus Medical to a "strong-buy" rating in a research note on Tuesday, January 27th. Three equities 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $104.36.

Insider Activity

In related news, EVP Kelly Huller sold 20,000 shares of the firm's stock in a transaction dated Wednesday, February 25th. The shares were 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 accessible through this link. Company insiders own 18.54% of the company's stock.

Globus Medical Trading Down 1.1%

Globus Medical stock opened at $93.84 on Tuesday. The firm has a 50-day moving average price of $90.12 and a 200-day moving average price of $85.36. The firm has a market capitalization of $12.69 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 2.22 and a beta of 1.09. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month 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 the consensus estimate of $1.06 by $0.22. The firm had revenue of $826.42 million during the quarter, compared to analyst estimates of $803.29 million. Globus Medical had a net margin of 18.30% and a return on equity of 12.57%. The business's revenue was up 25.7% on a year-over-year basis. During the same quarter last year, the business earned $0.84 EPS. As a group, sell-side analysts predict that Globus Medical, Inc. will post 4.46 earnings per share for the current fiscal 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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