Globus Medical, Inc. $GMED Shares Sold by GW&K Investment Management LLC

Key Points

• GW&K Investment Management cut its Globus Medical stake by 14.7% in the fourth quarter, selling 261,086 shares and leaving it with 1,516,345 shares worth about $132.4 million.
• Insider activity included Director David D. Davidar selling 25,000 shares for about $2.0 million; insiders still own 18.38% of the company.
• Analysts remain generally positive on GMED, with a consensus rating of Moderate Buy and an average price target of $106.36, while the company also posted strong quarterly results that beat earnings and revenue estimates.

GW&K Investment Management LLC decreased its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 14.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,516,345 shares of the medical device company's stock after selling 261,086 shares during the quarter. Globus Medical makes up about 1.1% of GW&K Investment Management LLC's investment portfolio, making the stock its 7th biggest holding. GW&K Investment Management LLC owned 1.13% of Globus Medical worth $132,392,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. SBI Securities Co. Ltd. boosted its holdings in Globus Medical by 98.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company's stock worth $29,000 after purchasing an additional 167 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Globus Medical by 45.1% during the third quarter. Parallel Advisors LLC now owns 557 shares of the medical device company's stock worth $32,000 after purchasing an additional 173 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Globus Medical by 74.3% during the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company's stock worth $27,000 after purchasing an additional 197 shares during the last quarter. Allworth Financial LP boosted its holdings in Globus Medical by 1.6% during 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 last quarter. Finally, Main Management ETF Advisors LLC boosted its holdings in Globus Medical by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 21,141 shares of the medical device company's stock worth $1,846,000 after purchasing an additional 216 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Insider Buying and Selling at Globus Medical

In other news, Director David D. Davidar sold 25,000 shares of the 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 transaction, the director directly owned 510,175 shares of the company's stock, valued at $41,201,733. This represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 18.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Zacks Research upgraded shares of Globus Medical from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 3rd. Truist Financial set a $115.00 price target on shares of Globus Medical in a research report on Wednesday, February 25th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Globus Medical in a research report on Wednesday, April 15th. 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. Finally, Needham & Company LLC upped their price target on shares of Globus Medical from $114.00 to $117.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $106.36.

Globus Medical Price Performance

Shares of GMED opened at $82.60 on Wednesday. The firm has a market capitalization of $11.21 billion, a PE ratio of 19.21, a PEG ratio of 1.61 and a beta of 0.95. The company's 50-day moving average is $86.08 and its 200-day moving average is $88.20. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week 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 for the quarter, beating the consensus estimate of $0.92 by $0.20. The company had revenue of $759.85 million for the quarter, compared to analyst estimates of $740.35 million. Globus Medical had a net margin of 18.92% and a return on equity of 13.46%. The company's revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 earnings per share. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. Analysts predict that Globus Medical, Inc. will post 4.74 earnings per share for the current fiscal year.

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.

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.