Segall Bryant & Hamill LLC Reduces Stake in Globus Medical, Inc. $GMED

Key Points

• Segall Bryant & Hamill cut its Globus Medical stake by 19.8% in the first quarter, selling 62,626 shares and retaining 253,885 shares valued at approximately $21.9 million.
• Institutional ownership remains high at 95.16%, with Invesco, Bank of Montreal, and AllianceBernstein among investors that significantly increased their positions.
• Analysts maintain a consensus “Moderate Buy” rating with a $102.08 price target, while Globus Medical recently exceeded earnings and revenue expectations, reporting $1.12 EPS and $759.85 million in quarterly revenue.

Segall Bryant & Hamill LLC lowered its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 253,885 shares of the medical device company's stock after selling 62,626 shares during the period. Segall Bryant & Hamill LLC owned 0.19% of Globus Medical worth $21,875,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GMED. Invesco Ltd. lifted its stake in Globus Medical by 1,235.2% in the fourth quarter. Invesco Ltd. now owns 3,886,405 shares of the medical device company's stock valued at $339,322,000 after purchasing an additional 3,595,339 shares during the last quarter. Bank of Montreal Can grew its holdings in Globus Medical by 15,317.1% during the fourth 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. Alliancebernstein L.P. increased its position 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 buying an additional 1,908,795 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in Globus Medical in the fourth quarter worth $90,411,000. Finally, Norges Bank bought a new stake in shares of Globus Medical in the fourth quarter valued at $89,922,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

Insider Transactions at Globus Medical

In related news, Director David D. Davidar sold 25,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $80.76, for a total transaction of $2,019,000.00. Following the sale, the director owned 510,175 shares of the company's stock, valued at approximately $41,201,733. This represents a 4.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 18.38% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on GMED shares. Royal Bank Of Canada dropped their price target on Globus Medical from $120.00 to $115.00 and set an "outperform" rating on the stock in a research report on Monday, July 13th. Piper Sandler decreased their price objective on Globus Medical from $115.00 to $100.00 and set an "overweight" rating for the company in a report on Monday, June 15th. Zacks Research cut Globus Medical from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Truist Financial dropped their price objective on shares of Globus Medical from $115.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, July 16th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Globus Medical in a research report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $102.08.

Globus Medical Price Performance

Shares of GMED stock opened at $78.99 on Friday. The company's fifty day simple moving average is $79.53 and its two-hundred day simple moving average is $85.61. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $101.40. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.63 and a beta of 0.95.

Globus Medical (NYSE:GMED - Get Free Report) last posted its 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 return on equity of 13.46% and a net margin of 18.92%.The firm had revenue of $759.85 million for the quarter, compared to the consensus estimate of $740.35 million. During the same quarter in the prior year, the business posted $0.68 earnings per share. The business's quarterly 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. Equities research analysts anticipate that Globus Medical, Inc. will post 4.74 EPS for the current 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.

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.