Voya Investment Management LLC Sells 7,917 Shares of Globus Medical, Inc. $GMED

Voya Investment Management LLC lowered its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 22.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,979 shares of the medical device company’s stock after selling 7,917 shares during the period. Voya Investment Management LLC’s holdings in Globus Medical were worth $1,545,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Inspire Investing LLC bought a new stake in shares of Globus Medical during the first quarter valued at approximately $767,000. Foresight Group Ltd Liability Partnership acquired a new stake in Globus Medical in the 1st quarter valued at $11,995,000. Amundi increased its stake in Globus Medical by 642,750.0% during the 1st quarter. Amundi now owns 25,714 shares of the medical device company’s stock valued at $1,852,000 after purchasing an additional 25,710 shares in the last quarter. American Century Companies Inc. raised its holdings in Globus Medical by 123.5% during the second quarter. American Century Companies Inc. now owns 298,221 shares of the medical device company’s stock worth $17,601,000 after buying an additional 164,813 shares during the last quarter. Finally, TT International Asset Management LTD lifted its stake in shares of Globus Medical by 32.6% in the second quarter. TT International Asset Management LTD now owns 50,709 shares of the medical device company’s stock valued at $2,993,000 after buying an additional 12,478 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Stock Performance

NYSE:GMED opened at $88.36 on Tuesday. Globus Medical, Inc. has a 52 week low of $51.79 and a 52 week high of $94.93. The firm has a 50-day moving average price of $80.72 and a two-hundred day moving average price of $65.98. The firm has a market cap of $11.83 billion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 1.63 and a beta of 1.06.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, November 6th. The medical device company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.39. The company had revenue of $769.05 million during the quarter, compared to analyst estimates of $734.58 million. Globus Medical had a return on equity of 11.52% and a net margin of 15.30%.Globus Medical’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.83 earnings per share. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. As a group, sell-side analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Canaccord Genuity Group lifted their price target on Globus Medical from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Barclays boosted their price objective on Globus Medical from $106.00 to $114.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Morgan Stanley raised their target price on Globus Medical from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Finally, Truist Financial reaffirmed a “buy” rating and set a $105.00 target price (up previously from $93.00) on shares of Globus Medical in a research report on Tuesday, November 18th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.11.

Insider Activity

In related news, Director Stephen T. Zarrilli sold 25,000 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $84.29, for a total transaction of $2,107,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kyle Kline sold 18,542 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $90.00, for a total transaction of $1,668,780.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 86,042 shares of company stock worth $7,419,030. 18.54% of the stock is owned by insiders.

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.