Leeward Investments LLC MA trimmed its position in shares of Globus Medical, Inc. (NYSE:GMED – Free Report) by 5.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,919 shares of the medical device company’s stock after selling 9,408 shares during the period. Leeward Investments LLC MA owned approximately 0.12% of Globus Medical worth $11,603,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of GMED. Sanctuary Advisors LLC grew its position in Globus Medical by 2.3% during the 1st quarter. Sanctuary Advisors LLC now owns 6,611 shares of the medical device company’s stock worth $570,000 after acquiring an additional 151 shares during the last quarter. Summitry LLC increased its position in Globus Medical by 2.6% during the 1st quarter. Summitry LLC now owns 8,205 shares of the medical device company’s stock valued at $707,000 after purchasing an additional 211 shares during the period. Central Pacific Bank Trust Division increased its position in shares of Globus Medical by 7.8% during the third quarter. Central Pacific Bank Trust Division now owns 3,057 shares of the medical device company’s stock worth $229,000 after buying an additional 220 shares during the period. Arizona State Retirement System grew its holdings in Globus Medical by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 31,077 shares of the medical device company’s stock worth $2,455,000 after acquiring an additional 252 shares during the period. Finally, Angeles Wealth Management LLC increased its holdings in Globus Medical by 5.0% in the second quarter. Angeles Wealth Management LLC now owns 5,894 shares of the medical device company’s stock worth $466,000 after purchasing an additional 280 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.
Insider Buying and Selling at Globus Medical
In related news, Director Stephen T. Zarrilli sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $87.04, for a total value of $2,176,000.00. Following the sale, the director owned 25,000 shares in the company, valued at $2,176,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James Tobin sold 30,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $74.58, for a total value of $2,237,400.00. Following the transaction, the director owned 15,000 shares of the company’s stock, valued at $1,118,700. The trade was a 66.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 18.38% of the stock is owned by corporate insiders.
Globus Medical Stock Performance
GMED stock opened at $81.47 on Monday. The firm has a market cap of $10.94 billion, a P/E ratio of 20.84, a P/E/G ratio of 1.31 and a beta of 0.96. The firm’s fifty day moving average is $78.03 and its 200 day moving average is $81.14. Globus Medical, Inc. has a 52 week low of $59.51 and a 52 week high of $101.40.
Globus Medical (NYSE:GMED – Get Free Report) last issued its earnings results on Thursday, August 6th. The medical device company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.10 by $0.24. The company had revenue of $789.61 million for the quarter, compared to the consensus estimate of $782.88 million. Globus Medical had a net margin of 17.02% and a return on equity of 14.57%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 earnings per share. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. As a group, analysts forecast that Globus Medical, Inc. will post 4.99 EPS for the current year.
Analyst Ratings Changes
A number of brokerages recently commented on GMED. Royal Bank Of Canada decreased their target price on Globus Medical from $115.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, October 1st. UBS Group initiated coverage on shares of Globus Medical in a report on Tuesday, July 28th. They issued a “neutral” rating and a $82.00 target price for the company. BMO Capital Markets began coverage on Globus Medical in a report on Wednesday, July 8th. They set an “outperform” rating and a $94.00 price target on the stock. Wells Fargo & Company lowered their price objective on shares of Globus Medical from $103.00 to $99.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Finally, Stifel Nicolaus lowered their target price on Globus Medical from $95.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, July 8th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.46.
Check Out Our Latest Report on GMED
Globus Medical Company Profile
Globus Medical, Inc develops and commercializes musculoskeletal solutions for surgeons, hospitals and patients. The company focuses primarily on spinal, orthopedic trauma and other orthopedic procedures, offering implants, instruments and related technologies designed to support surgical treatment and improve clinical outcomes.
Its product portfolio includes spinal implants and enabling technologies, including the ExcelsiusGPS robotic navigation platform and Excelsius3D imaging system.
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