Bank of America Corp DE Trims Stock Position in Globus Medical, Inc. $GMED

Key Points

• Bank of America reduced its Globus Medical stake by 8.0% in the first quarter, selling 61,055 shares and retaining 697,572 shares valued at approximately $60.1 million. Institutional investors collectively own 95.16% of GMED.
• Globus Medical exceeded quarterly expectations, reporting $1.34 in EPS versus the $1.10 consensus estimate and $789.6 million in revenue, up 5.9% year over year. The company issued fiscal 2026 EPS guidance of $4.95–$5.05.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and a $101.77 target price, compared with the stock’s reported price of $86.10. However, several firms recently lowered their price targets, while a company director sold 25,000 shares.

Bank of America Corp DE reduced its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 8.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 697,572 shares of the medical device company's stock after selling 61,055 shares during the period. Bank of America Corp DE owned about 0.51% of Globus Medical worth $60,103,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. AQR Capital Management LLC grew its position in shares of Globus Medical by 45.9% during the 1st quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company's stock valued at $1,622,000 after acquiring an additional 7,086 shares during the period. Integrated Wealth Concepts LLC raised its holdings in Globus Medical by 33.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company's stock worth $320,000 after purchasing an additional 1,085 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Globus Medical by 38.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company's stock worth $2,228,000 after purchasing an additional 8,540 shares during the period. Jones Financial Companies Lllp raised its holdings in Globus Medical by 237.3% in the 1st quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company's stock worth $62,000 after purchasing an additional 598 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Globus Medical by 8.8% during 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 valued at $25,439,000 after purchasing an additional 28,027 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Stock Performance

Shares of Globus Medical stock opened at $86.10 on Tuesday. Globus Medical, Inc. has a fifty-two week low of $54.15 and a fifty-two week high of $101.40. The company has a market capitalization of $11.69 billion, a P/E ratio of 22.02, a P/E/G ratio of 1.61 and a beta of 0.95. The company has a fifty day moving average of $79.46 and a 200 day moving average of $85.12.

Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The medical device company reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.24. Globus Medical had a return on equity of 14.57% and a net margin of 17.02%.The business had revenue of $789.61 million for the quarter, compared to analysts' expectations of $782.88 million. During the same period last year, the firm earned $0.86 earnings per share. The business's quarterly revenue was up 5.9% on a year-over-year basis. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. Analysts forecast that Globus Medical, Inc. will post 5 EPS for the current year.

Insider Activity

In related news, Director David D. Davidar sold 25,000 shares of the 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 sale, the director owned 510,175 shares in the company, valued at approximately $41,201,733. This trade represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 18.38% of the company's stock.

Wall Street Analyst Weigh In

GMED has been the subject of several recent research reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Globus Medical in a report on Monday, July 13th. Truist Financial decreased their price objective on Globus Medical from $115.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, July 16th. Piper Sandler cut their price objective 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. Needham & Company LLC increased their target price on shares of Globus Medical from $114.00 to $117.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Finally, Royal Bank Of Canada reduced their target price on shares of Globus Medical from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Globus Medical presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.77.

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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