Glenmede Trust Co. NA Has $19.42 Million Position in Globus Medical, Inc. $GMED

Key Points

• Glenmede Trust increased its Globus Medical position by 22.8% in the first quarter, holding 225,446 shares worth approximately $19.42 million. Institutional investors and hedge funds collectively own 95.16% of GMED.
• Globus Medical exceeded quarterly expectations, reporting $1.12 in EPS versus the $0.92 consensus and $759.85 million in revenue, up 27% year over year. The company reaffirmed fiscal 2026 EPS guidance of $4.70–$4.80.
• GMED opened at $78.99, below its 200-day moving average of $85.61, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $102.08.

Glenmede Trust Co. NA increased its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 22.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 225,446 shares of the medical device company's stock after buying an additional 41,801 shares during the quarter. Glenmede Trust Co. NA owned 0.17% of Globus Medical worth $19,424,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GMED. Annex Advisory Services LLC acquired a new position in Globus Medical during the fourth quarter valued at approximately $20,572,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Globus Medical by 71,618.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 716,469 shares of the medical device company's stock worth $62,555,000 after purchasing an additional 715,470 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of Globus Medical during the 4th quarter worth approximately $1,203,000. SG Americas Securities LLC raised its stake in shares of Globus Medical by 241.1% during the 1st quarter. SG Americas Securities LLC now owns 340,452 shares of the medical device company's stock worth $29,333,000 after purchasing an additional 240,642 shares in the last quarter. Finally, Artemis Investment Management LLP boosted its holdings in shares of Globus Medical by 43.7% in the 4th quarter. Artemis Investment Management LLP now owns 738,595 shares of the medical device company's stock valued at $64,487,000 after buying an additional 224,587 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Insiders Place Their Bets

In related news, Director David D. Davidar sold 25,000 shares of the business's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $80.76, for a total value of $2,019,000.00. Following the completion of the sale, the director directly owned 510,175 shares in the company, valued at $41,201,733. The trade was a 4.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 18.38% of the company's stock.

Globus Medical Stock Down 1.6%

Globus Medical stock opened at $78.99 on Friday. The company's 50-day moving average price is $79.53 and its two-hundred day moving average price is $85.61. The stock has a market cap of $10.72 billion, a P/E ratio of 18.37, a P/E/G ratio of 1.63 and a beta of 0.95. 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 issued its quarterly earnings data on Thursday, May 7th. The medical device company reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.20. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.The company had revenue of $759.85 million during the quarter, compared to analysts' expectations of $740.35 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. The business's revenue was up 27.0% on a year-over-year basis. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. Equities analysts anticipate that Globus Medical, Inc. will post 4.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Globus Medical from $104.00 to $103.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Stifel Nicolaus cut their target price on shares of Globus Medical from $95.00 to $80.00 and set a "hold" rating for the company in a research note on Wednesday, July 8th. BMO Capital Markets began coverage on Globus Medical in a report on Wednesday, July 8th. They set an "outperform" rating and a $94.00 price target for the company. Weiss Ratings restated a "hold (c+)" rating on shares of Globus Medical in a research note on Monday, July 13th. Finally, Needham & Company LLC raised their price objective on Globus Medical from $114.00 to $117.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $102.08.

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.

Want to see what other hedge funds are holding GMED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globus Medical, Inc. (NYSE:GMED - Free Report).

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.