Handelsbanken Fonder AB Purchases 44,894 Shares of Globus Medical, Inc. $GMED

Key Points

• Handelsbanken Fonder AB more than doubled its stake in Globus Medical, buying an additional 44,894 shares in the fourth quarter and bringing its total holding to 88,791 shares worth about $7.75 million.
• Globus Medical reported strong quarterly results, with earnings of $1.12 per share and revenue of $759.85 million, both above analyst expectations and up 27% year over year.
• Analysts remain generally positive on GMED, with a Moderate Buy consensus and an average price target of $106.36, while the stock recently traded at $84.84.

Handelsbanken Fonder AB increased its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 102.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,791 shares of the medical device company's stock after acquiring an additional 44,894 shares during the quarter. Handelsbanken Fonder AB owned about 0.07% of Globus Medical worth $7,752,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GMED. AQR Capital Management LLC boosted its stake in Globus Medical by 45.9% during the 1st quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company's stock worth $1,622,000 after acquiring an additional 7,086 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in Globus Medical by 33.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company's stock worth $320,000 after acquiring an additional 1,085 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Globus Medical by 38.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company's stock worth $2,228,000 after acquiring an additional 8,540 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Globus Medical by 237.3% during the 1st quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company's stock worth $62,000 after acquiring an additional 598 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Globus Medical by 8.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,527 shares of the medical device company's stock worth $25,439,000 after acquiring an additional 28,027 shares during the last quarter. Institutional investors own 95.16% of the company's stock.

Globus Medical Stock Performance

Shares of GMED opened at $84.84 on Friday. Globus Medical, Inc. has a twelve month low of $51.79 and a twelve month high of $101.40. The firm's 50 day moving average price is $87.26 and its two-hundred day moving average price is $87.80. The firm has a market cap of $11.52 billion, a P/E ratio of 19.73, a PEG ratio of 1.74 and a beta of 1.00.

Globus Medical (NYSE:GMED - Get Free Report) last announced 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 firm had revenue of $759.85 million for the quarter, compared to analyst estimates of $740.35 million. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The business'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. On average, sell-side analysts anticipate that Globus Medical, Inc. will post 4.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GMED has been the topic of several recent analyst reports. Barclays lifted their price objective on shares of Globus Medical from $118.00 to $123.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Globus Medical in a research note on Wednesday, April 15th. Truist Financial set a $115.00 price target on shares of Globus Medical in a research note on Wednesday, February 25th. Wells Fargo & Company cut 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 note on Friday, May 8th. Finally, Needham & Company LLC lifted their price target on shares of Globus Medical from $114.00 to $117.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Globus Medical has a consensus rating of "Moderate Buy" and a consensus target price of $106.36.

Insider Activity at Globus Medical

In other news, EVP Kelly Huller sold 20,000 shares of the business's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $94.50, for a total value of $1,890,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 18.38% of the stock is currently owned by corporate insiders.

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.

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.