Globus Medical, Inc. $GMED Shares Sold by Public Employees Retirement Association of Colorado

Key Points

• Public Employees Retirement Association of Colorado cut its Globus Medical stake by 14.3% in the fourth quarter, selling 35,600 shares and ending with 213,793 shares valued at about $18.7 million.
• Globus Medical reported strong quarterly results, with EPS of $1.12 topping estimates of $0.92 and revenue rising 27% year over year to $759.85 million.
• Analyst sentiment remains constructive, with a Moderate Buy consensus and an average price target of $105, while a recent insider sale by Director David D. Davidar reduced his holdings by 4.67%.

Public Employees Retirement Association of Colorado trimmed its stake in Globus Medical, Inc. (NYSE:GMED - Free Report) by 14.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 213,793 shares of the medical device company's stock after selling 35,600 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.16% of Globus Medical worth $18,666,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. William Blair Investment Management LLC grew its position in shares of Globus Medical by 17.2% in the 3rd quarter. William Blair Investment Management LLC now owns 2,819,165 shares of the medical device company's stock valued at $161,454,000 after buying an additional 414,134 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its position in shares of Globus Medical by 49,020.3% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 891,043 shares of the medical device company's stock valued at $51,034,000 after buying an additional 889,229 shares during the last quarter. Annex Advisory Services LLC purchased a new position in shares of Globus Medical in the 4th quarter valued at $20,572,000. Kingdon Capital Management L.L.C. grew its position in shares of Globus Medical by 51.6% in the 3rd quarter. Kingdon Capital Management L.L.C. now owns 257,650 shares of the medical device company's stock valued at $14,756,000 after buying an additional 87,650 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its position in shares of Globus Medical by 44.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 490,949 shares of the medical device company's stock valued at $28,117,000 after buying an additional 151,500 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wells Fargo & Company dropped their target price 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. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Globus Medical in a research report on Wednesday, April 15th. Zacks Research raised shares of Globus Medical from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 3rd. Truist Financial set a $115.00 price objective on shares of Globus Medical in a research report on Wednesday, February 25th. Finally, Wall Street Zen downgraded shares of Globus Medical from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Globus Medical currently has a consensus rating of "Moderate Buy" and an average price target of $105.00.

Globus Medical Stock Performance

Shares of Globus Medical stock opened at $77.25 on Tuesday. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $101.40. The company has a market capitalization of $10.49 billion, a P/E ratio of 17.97, a PEG ratio of 1.66 and a beta of 0.95. The company's fifty day moving average is $85.56 and its two-hundred day moving average is $88.00.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $740.35 million. During the same period last year, the firm posted $0.68 EPS. Globus Medical's revenue for the quarter was up 27.0% on a year-over-year basis. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. As a group, equities analysts expect that Globus Medical, Inc. will post 4.74 earnings per share for the current year.

Insider Buying and Selling at Globus Medical

In other news, Director David D. Davidar sold 25,000 shares of Globus Medical 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 sale, the director owned 510,175 shares of the company's stock, valued at $41,201,733. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.38% of the stock is currently owned by insiders.

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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