Defilade Capital Management L.P. raised its holdings in Globus Medical, Inc. (NYSE:GMED – Free Report) by 32.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 354,350 shares of the medical device company’s stock after purchasing an additional 87,138 shares during the quarter. Globus Medical accounts for approximately 4.3% of Defilade Capital Management L.P.’s investment portfolio, making the stock its 10th biggest position. Defilade Capital Management L.P. owned about 0.26% of Globus Medical worth $30,531,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. AQR Capital Management LLC boosted its stake in Globus Medical by 45.9% in the first quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company’s stock valued at $1,622,000 after buying an additional 7,086 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in Globus Medical by 33.0% during the first quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company’s stock worth $320,000 after acquiring an additional 1,085 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Globus Medical by 38.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company’s stock worth $2,228,000 after acquiring an additional 8,540 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Globus Medical by 237.3% in the 1st quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock valued at $62,000 after purchasing an additional 598 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Globus Medical by 8.8% in the 1st 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 valued at $25,439,000 after purchasing an additional 28,027 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on GMED shares. Zacks Research cut shares of Globus Medical from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Needham & Company LLC boosted their target price on shares of Globus Medical from $114.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Truist Financial lowered their price target on shares of Globus Medical from $115.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Piper Sandler dropped their price target on Globus Medical from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, June 15th. Finally, Stifel Nicolaus reduced their price objective on Globus Medical from $95.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.08.
Globus Medical Stock Performance
Shares of NYSE:GMED opened at $78.99 on Monday. Globus Medical, Inc. has a 52 week low of $51.79 and a 52 week high of $101.40. The firm has a market cap of $10.72 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 1.63 and a beta of 0.95. The firm’s fifty day moving average is $79.53 and its 200-day moving average is $85.57.
Globus Medical (NYSE:GMED – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The medical device company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.20. The business had revenue of $759.85 million during the quarter, compared to the consensus estimate of $740.35 million. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.Globus Medical’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. Sell-side analysts forecast that Globus Medical, Inc. will post 4.74 EPS for the current year.
Insider Buying and Selling at Globus Medical
In other news, Director David D. Davidar sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $80.76, for a total transaction of $2,019,000.00. Following the completion of the transaction, the director directly owned 510,175 shares in the company, valued at $41,201,733. This trade represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 18.38% of the company’s stock.
Globus Medical Company 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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