Hsbc Holdings PLC Takes Position in Globus Medical, Inc. $GMED

Key Points

• HSBC Holdings PLC opened a new position in Globus Medical during the fourth quarter, buying 25,654 shares worth about $2.25 million.
• Institutional interest in GMED remains high, with hedge funds and other institutions owning 95.16% of the stock; several firms also recently increased their stakes.
• Globus Medical reported strong quarterly results, posting $1.12 EPS versus the $0.92 consensus and revenue of $759.85 million, while analysts currently rate the stock a Moderate Buy with an average price target of $105.42.

Hsbc Holdings PLC purchased a new position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 25,654 shares of the medical device company's stock, valued at approximately $2,254,000.

Other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in Globus Medical by 45.9% during the first quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company's stock valued at $1,622,000 after purchasing an additional 7,086 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Globus Medical by 33.0% in the first quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company's stock worth $320,000 after purchasing an additional 1,085 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Globus Medical by 38.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company's stock worth $2,228,000 after purchasing an additional 8,540 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Globus Medical by 237.3% in the first quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company's stock valued at $62,000 after purchasing an additional 598 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of 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 valued at $25,439,000 after buying an additional 28,027 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GMED shares. Piper Sandler cut their price objective on shares of Globus Medical from $115.00 to $100.00 and set an "overweight" rating for the company in a report on Monday, June 15th. BMO Capital Markets initiated coverage on shares of Globus Medical in a report on Wednesday. They set an "outperform" rating and a $94.00 target price on the stock. Wall Street Zen downgraded Globus Medical from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 9th. 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. Finally, Wells Fargo & Company reduced their price target on Globus Medical from $104.00 to $103.00 and set an "overweight" rating for the company 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 five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $105.42.

Insider Transactions at Globus Medical

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

Globus Medical Trading Up 2.0%

Shares of Globus Medical stock opened at $78.18 on Friday. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $101.40. The company has a market cap of $10.61 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 1.58 and a beta of 0.95. The company's 50-day moving average price is $80.65 and its 200-day moving average price is $86.83.

Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The medical device company reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.20. The company had revenue of $759.85 million during 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%. Globus Medical's revenue was up 27.0% compared to the same quarter last year. During the same period last year, the business earned $0.68 earnings per share. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. On average, sell-side analysts predict that Globus Medical, Inc. will post 4.74 earnings per share for the current 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.

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