Pictet Asset Management Holding SA reduced its holdings in shares of Globus Medical, Inc. (NYSE:GMED – Free Report) by 21.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,540 shares of the medical device company’s stock after selling 25,114 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Globus Medical were worth $7,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently bought and sold shares of the company. AQR Capital Management LLC raised its position in Globus Medical by 45.9% in the 1st quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company’s stock worth $1,622,000 after buying an additional 7,086 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of Globus Medical by 33.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company’s stock valued at $320,000 after acquiring an additional 1,085 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Globus Medical by 38.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company’s stock valued at $2,228,000 after acquiring an additional 8,540 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Globus Medical by 237.3% in the first quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock worth $62,000 after acquiring an additional 598 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Globus Medical by 8.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,527 shares of the medical device company’s stock worth $25,439,000 after acquiring an additional 28,027 shares during the period. 95.16% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
GMED has been the topic of a number of research analyst reports. Needham & Company LLC increased their price objective on shares of Globus Medical from $114.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Globus Medical in a research report on Wednesday, April 15th. Wells Fargo & Company decreased their target price on shares of Globus Medical from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Piper Sandler lowered their price target on Globus Medical from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Monday, June 15th. Finally, Wall Street Zen downgraded Globus Medical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.00.
Globus Medical Stock Down 0.1%
Shares of NYSE:GMED opened at $80.01 on Friday. The stock has a market capitalization of $10.86 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.65 and a beta of 0.95. The firm’s 50 day moving average price is $82.08 and its 200-day moving average price is $87.12. Globus Medical, Inc. has a twelve month low of $51.79 and a twelve month high of $101.40.
Globus Medical (NYSE:GMED – Get Free Report) last announced its earnings results on Thursday, May 7th. The medical device company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.20. Globus Medical had a net margin of 18.92% and a return on equity of 13.46%. The company had revenue of $759.85 million during the quarter, compared to analyst estimates of $740.35 million. During the same period in the previous year, the business posted $0.68 earnings per share. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. Analysts expect that Globus Medical, Inc. will post 4.74 earnings per share for the current fiscal year.
Insider Buying and Selling at Globus Medical
In other news, Director David D. Davidar sold 25,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $80.76, for a total transaction of $2,019,000.00. Following the completion of the sale, the director owned 510,175 shares of the company’s stock, valued at $41,201,733. The trade was a 4.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 18.38% of the stock is owned by corporate 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.
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