Globus Medical, Inc. $GMED Stock Sold by Annex Advisory Services LLC

Key Points

• Annex Advisory Services LLC cut its Globus Medical position by 92.8% in the third quarter, selling 345,888 shares and retaining 26,906 shares valued at approximately $2.0 million.
• Institutional investors and hedge funds own 95.16% of GMED, while company insiders own 18.38%; two directors also recently sold substantial portions of their holdings.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $99.46. Globus Medical recently exceeded quarterly earnings and revenue expectations, reporting $1.34 in EPS on $789.61 million in revenue.

Annex Advisory Services LLC trimmed its position in Globus Medical, Inc. (NYSE:GMED - Free Report) by 92.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,906 shares of the medical device company's stock after selling 345,888 shares during the period. Annex Advisory Services LLC's holdings in Globus Medical were worth $2,015,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Washington Trust Advisors Inc. boosted its holdings in shares of Globus Medical by 116.8% during the 2nd quarter. Washington Trust Advisors Inc. now owns 45,006 shares of the medical device company's stock worth $3,556,000 after purchasing an additional 24,250 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Globus Medical in the second quarter valued at approximately $1,858,000. WCM Investment Management LLC purchased a new stake in shares of Globus Medical in the first quarter valued at approximately $16,965,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Globus Medical in the second quarter valued at approximately $7,941,000. Finally, SG Americas Securities LLC increased its holdings in shares of Globus Medical by 241.1% in the first quarter. SG Americas Securities LLC now owns 340,452 shares of the medical device company's stock valued at $29,333,000 after purchasing an additional 240,642 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Stephen Zarrilli sold 25,000 shares of Globus Medical stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $87.04, for a total value of $2,176,000.00. Following the completion of the transaction, the director owned 25,000 shares in the company, valued at approximately $2,176,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James R. Tobin sold 30,000 shares of the business's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $74.58, for a total value of $2,237,400.00. Following the transaction, the director directly owned 15,000 shares of the company's stock, valued at approximately $1,118,700. This represents a 66.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 18.38% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Truist Financial reduced their price target on Globus Medical from $115.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, July 16th. Zacks Research raised shares of Globus Medical from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Weiss Ratings reissued a "hold (c+)" rating on shares of Globus Medical in a report on Friday, October 9th. Wells Fargo & Company cut their price objective on shares of Globus Medical from $103.00 to $99.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. Finally, UBS Group started coverage on shares of Globus Medical in a research report on Tuesday, July 28th. They set a "neutral" rating and a $82.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Globus Medical currently has an average rating of "Moderate Buy" and an average target price of $99.46.

Globus Medical Stock Performance

Globus Medical stock opened at $76.64 on Friday. The company has a market capitalization of $10.29 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 1.24 and a beta of 0.96. Globus Medical, Inc. has a fifty-two week low of $58.51 and a fifty-two week high of $101.40. The firm has a 50 day moving average price of $78.67 and a 200 day moving average price of $81.45.

Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The medical device company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.24. The company had revenue of $789.61 million for the quarter, compared to analysts' expectations of $782.88 million. Globus Medical had a return on equity of 14.57% and a net margin of 17.02%. The firm's revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 earnings per share. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. As a group, equities research analysts forecast that Globus Medical, Inc. will post 4.99 earnings per share for the current year.

Globus Medical Company Profile

Globus Medical, Inc is a medical device company that develops musculoskeletal solutions for surgeons, hospitals and ambulatory surgery centers. Its primary focus is the design, development and commercialization of products used in spinal surgery, including implants, instruments, navigation systems and robotic-assisted technologies.

The company's portfolio includes the ExcelsiusGPS robotic navigation platform, Excelsius3D imaging technology, spinal implants and systems for procedures such as deformity correction, degenerative spine treatment and minimally invasive surgery.

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