Ionic Capital Management LLC Sells 15,000 Shares of Globus Medical, Inc. $GMED

Key Points

• Ionic Capital Management reduced its stake in Globus Medical by 32.2% in the fourth quarter, selling 15,000 shares and leaving it with 31,596 shares worth about $2.76 million.
• Wall Street sentiment remains constructive: Globus Medical has a consensus rating of “Moderate Buy,” with an average price target of $105.00 after several recent analyst upgrades and target increases.
• The company posted strong quarterly results, with EPS of $1.12 beating estimates and revenue rising 27% year over year to $759.85 million; however, the stock was trading down 2.9% at $75.29.

Ionic Capital Management LLC lowered its position in Globus Medical, Inc. (NYSE:GMED - Free Report) by 32.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,596 shares of the medical device company's stock after selling 15,000 shares during the period. Globus Medical makes up approximately 0.4% of Ionic Capital Management LLC's investment portfolio, making the stock its 12th biggest holding. Ionic Capital Management LLC's holdings in Globus Medical were worth $2,759,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Freestone Grove Partners LP bought a new stake in Globus Medical in the fourth quarter worth about $18,519,000. Guggenheim Capital LLC lifted its stake in Globus Medical by 3.4% in the fourth quarter. Guggenheim Capital LLC now owns 12,919 shares of the medical device company's stock worth $1,128,000 after purchasing an additional 422 shares during the last quarter. ADAR1 Capital Management LLC bought a new stake in Globus Medical in the fourth quarter worth about $1,755,000. AQR Capital Management LLC raised its stake in shares of Globus Medical by 56.4% during the fourth quarter. AQR Capital Management LLC now owns 118,086 shares of the medical device company's stock valued at $10,310,000 after acquiring an additional 42,577 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Globus Medical by 14.8% during the fourth quarter. Cetera Investment Advisers now owns 38,033 shares of the medical device company's stock valued at $3,321,000 after acquiring an additional 4,912 shares in the last quarter. Institutional investors own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Globus Medical in a research note on Wednesday, April 15th. Zacks Research raised shares of Globus Medical from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 3rd. Truist Financial set a $115.00 price target on shares of Globus Medical in a research note on Wednesday, February 25th. Wall Street Zen downgraded shares of Globus Medical from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 9th. 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 assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Globus Medical presently has a consensus rating of "Moderate Buy" and an average target price of $105.00.

Insider Transactions at Globus Medical

In related news, Director David D. Davidar sold 25,000 shares of the business's stock in a transaction on 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 directly owned 510,175 shares in the company, valued at $41,201,733. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.38% of the stock is owned by corporate insiders.

Globus Medical Trading Down 2.9%

NYSE GMED opened at $75.29 on Thursday. The firm's fifty day simple moving average is $85.09 and its two-hundred day simple moving average is $87.80. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $101.40. The firm has a market capitalization of $10.22 billion, a P/E ratio of 17.51, a P/E/G ratio of 1.60 and a beta of 0.95.

Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly earnings results 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 business had revenue of $759.85 million for the quarter, compared to analyst estimates of $740.35 million. During the same period in the previous year, the company earned $0.68 earnings per share. The business'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, sell-side analysts predict that Globus Medical, Inc. will post 4.74 earnings per share for the current fiscal year.

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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