Royal Bank of Canada Lowers Stake in Globus Medical, Inc. $GMED

Key Points

• Royal Bank of Canada reduced its Globus Medical stake by 6.9%, selling 39,063 shares and retaining 525,419 shares valued at approximately $45.3 million. Institutional investors collectively own 95.16% of the company.
• Analyst sentiment remains positive overall, with GMED carrying a “Moderate Buy” consensus rating and an average price target of $102.08, despite some recent target reductions and a downgrade from Zacks Research.
• Globus Medical exceeded quarterly expectations, reporting $1.12 in EPS versus the $0.92 consensus and $759.85 million in revenue, up 27% year over year. Shares recently opened at $78.99, while director David D. Davidar sold $2.02 million worth of stock.

Royal Bank of Canada cut its stake in Globus Medical, Inc. (NYSE:GMED - Free Report) by 6.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 525,419 shares of the medical device company's stock after selling 39,063 shares during the quarter. Royal Bank of Canada owned about 0.39% of Globus Medical worth $45,270,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Sanctuary Advisors LLC grew its stake in Globus Medical by 2.3% in the first quarter. Sanctuary Advisors LLC now owns 6,611 shares of the medical device company's stock valued at $570,000 after purchasing an additional 151 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Globus Medical by 98.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company's stock valued at $29,000 after buying an additional 167 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Globus Medical by 45.1% in the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company's stock valued at $32,000 after buying an additional 173 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Globus Medical by 74.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company's stock valued at $27,000 after buying an additional 197 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of Globus Medical by 1.6% in the 4th quarter. Allworth Financial LP now owns 12,545 shares of the medical device company's stock worth $1,095,000 after buying an additional 199 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

GMED has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Globus Medical from $104.00 to $103.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Needham & Company LLC raised their target price 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. Stifel Nicolaus cut their price target on shares of Globus Medical from $95.00 to $80.00 and set a "hold" rating on the stock in a report on Wednesday, July 8th. Zacks Research lowered shares of Globus Medical from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Finally, BMO Capital Markets started coverage on Globus Medical in a research report on Wednesday, July 8th. They set an "outperform" rating and a $94.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $102.08.

Insider Activity at Globus Medical

In related news, Director David D. Davidar sold 25,000 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $80.76, for a total value of $2,019,000.00. Following the sale, the director owned 510,175 shares in the company, valued at $41,201,733. This represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.38% of the stock is owned by company insiders.

Globus Medical Price Performance

Shares of GMED opened at $78.99 on Monday. The company's fifty day moving average price is $79.53 and its 200-day moving average price is $85.57. Globus Medical, Inc. has a 1-year low of $51.79 and a 1-year high of $101.40. The firm has a market capitalization of $10.72 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 1.63 and a beta of 0.95.

Globus Medical (NYSE:GMED - Get Free Report) last issued its earnings results on Thursday, May 7th. The medical device company reported $1.12 earnings per share (EPS) for the quarter, topping 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 return on equity of 13.46% and a net margin of 18.92%.The firm's quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. As a group, research analysts anticipate that Globus Medical, Inc. will post 4.74 EPS for the current fiscal year.

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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