225,534 Globus Medical, Inc. $GMED Shares Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring increased its Globus Medical stake by 14.3% in the third quarter, buying 225,534 shares and bringing its holdings to 1.80 million shares, worth about $133.7 million.
• Globus Medical’s third-quarter adjusted EPS of $1.23 beat estimates, but revenue of $763.7 million fell short of consensus and declined 0.7% year over year. Full-year revenue guidance also came in below analyst expectations.
• Analyst sentiment was mixed, with some firms lowering price targets and BMO downgrading the stock to Market Perform; MarketBeat’s consensus rating remained Moderate Buy.

Allspring Global Investments Holdings LLC lifted its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 14.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,797,215 shares of the medical device company's stock after purchasing an additional 225,534 shares during the period. Allspring Global Investments Holdings LLC owned 1.34% of Globus Medical worth $133,731,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Washington Trust Advisors Inc. grew its position in shares of Globus Medical by 116.8% during the 2nd quarter. Washington Trust Advisors Inc. now owns 45,006 shares of the medical device company's stock worth $3,556,000 after purchasing an additional 24,250 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Globus Medical in the second quarter valued at approximately $1,858,000. WCM Investment Management LLC bought a new stake in shares of Globus Medical in the first quarter valued at approximately $16,965,000. Public Employees Retirement System of Ohio bought a new stake in shares of Globus Medical in the second quarter valued at approximately $7,941,000. Finally, Congress Asset Management Co. boosted its stake in shares of Globus Medical by 6.6% in the third quarter. Congress Asset Management Co. now owns 361,026 shares of the medical device company's stock valued at $27,041,000 after buying an additional 22,401 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Globus Medical

Here are the key news stories impacting Globus Medical this week:

• Positive Sentiment: Third-quarter adjusted earnings were $1.23 per share, ahead of the $1.20 consensus and up from $1.18 a year earlier. Globus also increased its share-repurchase authorization by $500 million, offering potential support for shareholder returns. Third-quarter results and repurchase announcement
• Neutral Sentiment: Analyst views were mixed: Canaccord and Needham cut their price targets but maintained Buy ratings, while Wells Fargo slightly raised its target and kept an Overweight rating. The company is also seeking acquisitions, though the provided report does not detail potential deals. Report on acquisition plans
• Negative Sentiment: Revenue of $763.7 million missed the $792.4 million analyst estimate and declined 0.7% year over year. Full-year 2026 revenue guidance of $3.1 billion is below the roughly $3.2 billion consensus; management cited spine-product launch delays and weak Nevro sales, weighing on expectations despite EPS guidance being broadly in line. Q3 call highlights and outlook
• Negative Sentiment: BMO Capital Markets downgraded GMED from Outperform to Market Perform and cut its price target, adding to concerns about the outlook. Coverage of the stock decline

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Truist Financial reduced their price target on Globus Medical from $115.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, July 16th. Wall Street Zen cut Globus Medical from a "buy" rating to a "hold" rating in a report on Saturday. Needham & Company LLC cut their target price on Globus Medical from $117.00 to $100.00 and set a "buy" rating for the company in a research report on Friday. BMO Capital Markets lowered Globus Medical from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $94.00 to $78.00 in a report on Friday. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Globus Medical in a report on Friday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $96.92.

Globus Medical Stock Down 0.5%

Globus Medical stock opened at $70.67 on Monday. Globus Medical, Inc. has a 12-month low of $70.39 and a 12-month high of $101.40. The business's 50-day moving average price is $77.20 and its two-hundred day moving average price is $83.18. The stock has a market cap of $9.49 billion, a PE ratio of 17.36, a P/E/G ratio of 1.14 and a beta of 0.98.

Globus Medical (NYSE:GMED - Get Free Report) last issued its earnings results on Thursday, November 5th. The medical device company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. The firm had revenue of $763.72 million during the quarter, compared to the consensus estimate of $792.39 million. Globus Medical had a return on equity of 14.43% and a net margin of 17.76%. The business's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.18 earnings per share. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. As a group, analysts expect that Globus Medical, Inc. will post 4.99 earnings per share for the current year.

Insider Activity at Globus Medical

In related news, Director James R. Tobin sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $74.58, for a total transaction of $2,237,400.00. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at $1,118,700. This represents a 66.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen 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 transaction of $2,176,000.00. Following the transaction, the director owned 25,000 shares of the company's stock, valued at approximately $2,176,000. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 60,000 shares of company stock valued at $4,838,400. 18.38% of the stock is owned by insiders.

Globus Medical Company Profile

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.