Swedbank AB Purchases 32,000 Shares of Globus Medical, Inc. $GMED

Key Points

• Swedbank AB increased its stake in Globus Medical by 6.0% in Q1, buying 32,000 more shares and bringing its total holding to 562,403 shares worth about $48.5 million.
• Insider selling was also reported, with director David D. Davidar selling 25,000 shares for about $2.0 million, reducing his direct stake by 4.67%.
• Globus Medical beat earnings expectations in its latest quarter, reporting $1.12 EPS on revenue of $759.85 million, while analysts currently rate the stock a consensus Moderate Buy with a $105.42 target price.

Swedbank AB increased its holdings in Globus Medical, Inc. (NYSE:GMED - Free Report) by 6.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 562,403 shares of the medical device company's stock after acquiring an additional 32,000 shares during the quarter. Swedbank AB owned approximately 0.42% of Globus Medical worth $48,457,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its holdings in shares of Globus Medical by 98.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company's stock valued at $29,000 after purchasing an additional 167 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Globus Medical during the third quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its stake in shares of Globus Medical by 74.3% during the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company's stock valued at $27,000 after purchasing an additional 197 shares in the last quarter. Larson Financial Group LLC increased its holdings in Globus Medical by 83.4% during the fourth quarter. Larson Financial Group LLC now owns 532 shares of the medical device company's stock valued at $46,000 after buying an additional 242 shares during the period. Finally, Parallel Advisors LLC increased its holdings in Globus Medical by 45.1% during the third 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 during the period. 95.16% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director David D. Davidar sold 25,000 shares of the business's stock in a transaction on 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 18.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GMED. Stifel Nicolaus lowered their target price on Globus Medical from $95.00 to $80.00 and set a "hold" rating for the company in a report on Wednesday. Piper Sandler cut their price target on Globus Medical from $115.00 to $100.00 and set an "overweight" rating on the stock in a report on Monday, June 15th. Weiss Ratings reissued a "hold (c+)" rating on shares of Globus Medical in a research report on Wednesday, April 15th. Royal Bank Of Canada upped their price objective on Globus Medical from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Finally, Needham & Company LLC raised their price objective on Globus Medical from $114.00 to $117.00 and gave the company a "buy" rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $105.42.

Globus Medical Stock Down 3.3%

NYSE:GMED opened at $76.23 on Thursday. The stock has a market capitalization of $10.35 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.63 and a beta of 0.95. Globus Medical, Inc. has a 52 week low of $51.79 and a 52 week high of $101.40. The firm has a 50 day moving average of $81.13 and a 200 day moving average of $86.97.

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. The business had revenue of $759.85 million for 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%. The business's revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. As a group, analysts expect that Globus Medical, Inc. will post 4.74 EPS for the current 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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