Pictet Asset Management Holding SA Trims Stake in Globus Medical, Inc. $GMED

Key Points

• Pictet Asset Management cut its Globus Medical stake by 21.3% in the first quarter, leaving it with 92,540 shares valued at about $7.96 million.
• Globus Medical reported strong quarterly results, with EPS of $1.12 beating estimates and revenue rising 27% year over year to $759.85 million.
• Analysts remain cautiously positive overall: the stock has a Moderate Buy consensus rating, though some firms trimmed price targets while others raised theirs.

Pictet Asset Management Holding SA reduced its stake in Globus Medical, Inc. (NYSE:GMED - Free Report) by 21.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,540 shares of the medical device company's stock after selling 25,114 shares during the period. Pictet Asset Management Holding SA owned 0.07% of Globus Medical worth $7,955,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GMED. Invesco Ltd. grew its holdings in shares of Globus Medical by 1,235.2% during the 4th quarter. Invesco Ltd. now owns 3,886,405 shares of the medical device company's stock worth $339,322,000 after acquiring an additional 3,595,339 shares during the period. Bank of Montreal Can lifted its stake in shares of Globus Medical by 15,317.1% in the 4th quarter. Bank of Montreal Can now owns 3,373,260 shares of the medical device company's stock valued at $294,519,000 after purchasing an additional 3,351,380 shares during the period. Sculptor Capital LP boosted its position in shares of Globus Medical by 31.9% during the second quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company's stock valued at $162,936,000 after purchasing an additional 667,850 shares in the last quarter. Madison Avenue Partners LP grew its stake in Globus Medical by 3.0% in the fourth quarter. Madison Avenue Partners LP now owns 2,624,751 shares of the medical device company's stock worth $229,167,000 after purchasing an additional 76,588 shares during the period. Finally, Alliancebernstein L.P. grew its stake in Globus Medical by 1,303.9% in the third quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company's stock worth $117,700,000 after purchasing an additional 1,908,795 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on GMED. Wall Street Zen lowered Globus Medical from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 9th. Piper Sandler decreased their price target on shares of Globus Medical from $115.00 to $100.00 and set an "overweight" rating for the company in a research note on Monday, June 15th. 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 report on Friday, May 8th. Wells Fargo & Company lowered their price target on shares of Globus Medical from $104.00 to $103.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Finally, Royal Bank Of Canada boosted their price objective on shares of Globus Medical from $115.00 to $120.00 and gave the stock an "outperform" 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 four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Globus Medical presently has an average rating of "Moderate Buy" and a consensus target price of $105.00.

Globus Medical Trading Down 0.1%

Globus Medical stock opened at $80.01 on Friday. The business's fifty day simple moving average is $82.08 and its two-hundred day simple moving average is $87.12. Globus Medical, Inc. has a 12 month low of $51.79 and a 12 month high of $101.40. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 1.65 and a beta of 0.95.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The medical device company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.20. The firm had revenue of $759.85 million during the quarter, compared to the consensus estimate of $740.35 million. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.The company's revenue was up 27.0% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. On average, equities research analysts predict that Globus Medical, Inc. will post 4.74 EPS for the current year.

Insiders Place Their Bets

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 510,175 shares in the company, valued at approximately $41,201,733. This trade represents a 4.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 18.38% of the company's stock.

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.

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