Assenagon Asset Management S.A. Sells 127,216 Shares of Globus Medical, Inc. $GMED

Key Points

• Assenagon Asset Management cut its Globus Medical stake by 95.9% in the second quarter, selling 127,216 shares and retaining 5,454 shares worth approximately $431,000.
• Globus Medical reported quarterly EPS of $1.34, beating estimates of $1.10, while revenue reached $789.61 million and rose 5.9% year over year. The company guided to fiscal 2026 EPS of $4.95–$5.05.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $101.77, compared with the stock’s reported price of $85.75; institutional investors collectively own 95.16% of the shares.

Assenagon Asset Management S.A. lessened its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 95.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,454 shares of the medical device company's stock after selling 127,216 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Globus Medical were worth $431,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Invesco Ltd. lifted its stake in shares of Globus Medical by 1,235.2% in the fourth quarter. Invesco Ltd. now owns 3,886,405 shares of the medical device company's stock worth $339,322,000 after buying an additional 3,595,339 shares during the last quarter. Bank of Montreal Can raised its holdings in Globus Medical by 15,317.1% in the 4th quarter. Bank of Montreal Can now owns 3,373,260 shares of the medical device company's stock worth $294,519,000 after acquiring an additional 3,351,380 shares during the period. Alliancebernstein L.P. raised its holdings in Globus Medical by 1,303.9% in the 3rd quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company's stock worth $117,700,000 after acquiring an additional 1,908,795 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in Globus Medical during the 4th quarter worth $90,411,000. Finally, Norges Bank acquired a new position in Globus Medical during the 4th quarter worth $89,922,000. Institutional investors and hedge funds own 95.16% of the company's stock.

Globus Medical Stock Performance

GMED opened at $85.75 on Friday. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.38 and a beta of 0.95. The firm's 50-day simple moving average is $79.98 and its 200-day simple moving average is $84.95. Globus Medical, Inc. has a twelve month low of $54.15 and a twelve month high of $101.40.

Globus Medical (NYSE:GMED - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The medical device company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.24. The firm had revenue of $789.61 million during 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 quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. As a group, sell-side analysts anticipate that Globus Medical, Inc. will post 4.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GMED. Needham & Company LLC upped their price target on Globus Medical from $114.00 to $117.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Wells Fargo & Company dropped their target price 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. Royal Bank Of Canada cut their target price on shares of Globus Medical from $120.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, July 13th. Stifel Nicolaus reduced their price target on shares of Globus Medical from $95.00 to $80.00 and set a "hold" rating for the company in a report on Wednesday, July 8th. Finally, Zacks Research raised shares of Globus Medical from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $101.77.

Insider Buying and Selling

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $80.76, for a total value of $2,019,000.00. Following the completion of the transaction, the director directly owned 510,175 shares of the company's stock, valued at approximately $41,201,733. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 18.38% of the stock is currently owned by corporate insiders.

Globus Medical 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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