Globus Medical, Inc. $GMED Shares Sold by Leith Wheeler Investment Counsel Ltd.

Key Points

• Leith Wheeler Investment Counsel trimmed its Globus Medical stake by 8.0% in the first quarter, selling 13,788 shares and leaving it with 159,535 shares valued at about $13.7 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 95.16% of Globus Medical’s stock; several firms also added to or initiated positions during the quarter.
• Analyst sentiment is mixed but broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $103.75, even as some firms cut targets or downgraded the stock.

Leith Wheeler Investment Counsel Ltd. lowered its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 8.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 159,535 shares of the medical device company's stock after selling 13,788 shares during the period. Globus Medical comprises 1.1% of Leith Wheeler Investment Counsel Ltd.'s portfolio, making the stock its 24th largest holding. Leith Wheeler Investment Counsel Ltd. owned 0.12% of Globus Medical worth $13,746,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GMED. WCM Investment Management LLC acquired a new stake in shares of Globus Medical during the 1st quarter valued at approximately $16,965,000. Dimensional Fund Advisors LP grew its holdings in shares of Globus Medical by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,769,897 shares of the medical device company's stock worth $152,474,000 after acquiring an additional 33,976 shares during the period. Parallel Advisors LLC increased its stake in Globus Medical by 63.3% in the 1st quarter. Parallel Advisors LLC now owns 1,778 shares of the medical device company's stock valued at $153,000 after purchasing an additional 689 shares in the last quarter. KBC Group NV increased its stake in Globus Medical by 0.6% in the 1st quarter. KBC Group NV now owns 73,824 shares of the medical device company's stock valued at $6,361,000 after purchasing an additional 417 shares in the last quarter. Finally, Precision Wealth Strategies LLC raised its holdings in Globus Medical by 49.9% during the first quarter. Precision Wealth Strategies LLC now owns 9,393 shares of the medical device company's stock worth $809,000 after purchasing an additional 3,128 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Zacks Research downgraded Globus Medical from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Wells Fargo & Company lowered 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. Truist Financial dropped their price target on Globus Medical from $115.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, July 16th. Stifel Nicolaus cut their price target on Globus Medical from $95.00 to $80.00 and set a "hold" rating for the company in a report on Wednesday, July 8th. Finally, BMO Capital Markets started coverage on Globus Medical in a research report on Wednesday, July 8th. They issued an "outperform" rating and a $94.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $103.75.

Insider Activity at Globus Medical

In other news, Director David D. Davidar sold 25,000 shares of the company's stock in a transaction dated 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 transaction, the director owned 510,175 shares of the company's stock, valued at $41,201,733. This represents a 4.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 18.38% of the stock is currently owned by corporate insiders.

Globus Medical Stock Performance

Shares of GMED opened at $76.23 on Tuesday. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $101.40. The company's 50 day simple moving average is $79.83 and its 200 day simple moving average is $86.37. The company has a market capitalization of $10.35 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.59 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 the consensus estimate of $0.92 by $0.20. The company had revenue of $759.85 million during the quarter, compared to the consensus estimate of $740.35 million. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.Globus Medical's revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. Equities analysts expect that Globus Medical, Inc. will post 4.74 EPS for the current fiscal 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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