Globus Medical, Inc. $GMED Shares Sold by First Trust Advisors LP

First Trust Advisors LP trimmed its holdings in Globus Medical, Inc. (NYSE:GMED - Free Report) by 13.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 299,924 shares of the medical device company's stock after selling 44,655 shares during the quarter. First Trust Advisors LP owned about 0.22% of Globus Medical worth $25,841,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its position in Globus Medical by 2.3% during the 1st quarter. Sanctuary Advisors LLC now owns 6,611 shares of the medical device company's stock worth $570,000 after acquiring an additional 151 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Globus Medical by 98.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company's stock valued at $29,000 after purchasing an additional 167 shares during the period. Parallel Advisors LLC raised its stake in shares of Globus Medical by 45.1% during the third quarter. Parallel Advisors LLC now owns 557 shares of the medical device company's stock valued at $32,000 after purchasing an additional 173 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Globus Medical by 74.3% during the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company's stock valued at $27,000 after purchasing an additional 197 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in Globus Medical by 1.6% in the fourth quarter. Allworth Financial LP now owns 12,545 shares of the medical device company's stock worth $1,095,000 after purchasing an additional 199 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director David D. Davidar sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were 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 directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 18.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on GMED. Weiss Ratings reissued a "hold (c+)" rating on shares of Globus Medical in a research note on Monday, July 13th. Wall Street Zen lowered shares of Globus Medical from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 9th. BMO Capital Markets assumed coverage on shares of Globus Medical in a report on Wednesday, July 8th. They issued an "outperform" rating and a $94.00 price objective for the company. Truist Financial lowered their price objective on shares of Globus Medical from $115.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, July 16th. Finally, Wells Fargo & Company dropped their target price on Globus Medical from $104.00 to $103.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $102.08.

Globus Medical Stock Up 2.9%

NYSE:GMED opened at $80.49 on Wednesday. The business's 50-day moving average price is $79.79 and its 200 day moving average price is $85.85. 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 $10.93 billion, a P/E ratio of 18.72, a PEG ratio of 1.62 and a beta of 0.95.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings results 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. Globus Medical had a net margin of 18.92% and a return on equity of 13.46%. The company had revenue of $759.85 million during the quarter, compared to the consensus estimate of $740.35 million. During the same period in the prior year, the company earned $0.68 EPS. Globus Medical'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. Sell-side analysts expect that Globus Medical, Inc. will post 4.74 EPS for the current year.

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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