Vanguard Group Inc. Cuts Stock Holdings in Globus Medical, Inc. $GMED

Key Points

• Vanguard Group trimmed its stake in Globus Medical by 0.5% in Q4, selling 56,292 shares and still holding 10,549,455 shares (about 7.88%) valued at roughly $921.1 million.
• Globus posted a strong quarter, reporting $1.28 EPS vs. $1.06 expected and revenue of $826.4M, up 25.7% year-over-year.
• The stock is highly institutionally owned (~95%), saw insider selling of 20,000 shares, and carries an average analyst rating of "Moderate Buy" with a consensus target near $104.36.

Vanguard Group Inc. trimmed its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,549,455 shares of the medical device company's stock after selling 56,292 shares during the period. Vanguard Group Inc. owned about 7.88% of Globus Medical worth $921,073,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GMED. Alliancebernstein L.P. boosted its position in Globus Medical by 1,303.9% during the third quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company's stock valued at $117,700,000 after buying an additional 1,908,795 shares during the period. ANTIPODES PARTNERS Ltd boosted its position in Globus Medical by 49,020.3% during the third quarter. ANTIPODES PARTNERS Ltd now owns 891,043 shares of the medical device company's stock valued at $51,034,000 after buying an additional 889,229 shares during the period. Dimensional Fund Advisors LP boosted its position in Globus Medical by 72.1% during the third quarter. Dimensional Fund Advisors LP now owns 2,011,104 shares of the medical device company's stock valued at $115,166,000 after buying an additional 842,547 shares during the period. Vestal Point Capital LP boosted its position in Globus Medical by 150.0% during the third quarter. Vestal Point Capital LP now owns 1,250,000 shares of the medical device company's stock valued at $71,588,000 after buying an additional 750,000 shares during the period. Finally, Sculptor Capital LP boosted its position in 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 buying an additional 667,850 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Globus Medical Trading Up 1.2%

Globus Medical stock opened at $91.29 on Friday. The firm has a 50-day moving average of $90.09 and a 200-day moving average of $85.84. The firm has a market cap of $12.35 billion, a P/E ratio of 23.17, a P/E/G ratio of 2.13 and a beta of 1.00. Globus Medical, Inc. has a 1-year low of $51.79 and a 1-year high of $101.40.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The medical device company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.06 by $0.22. Globus Medical had a net margin of 18.30% and a return on equity of 12.57%. The business had revenue of $826.42 million during the quarter, compared to analyst estimates of $803.29 million. During the same period last year, the business posted $0.84 earnings per share. Globus Medical's quarterly revenue was up 25.7% compared to the same quarter last year. Research analysts forecast that Globus Medical, Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Globus Medical news, EVP Kelly Huller sold 20,000 shares of the firm's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $94.50, for a total value of $1,890,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.51% of the stock is owned by company insiders.

Analyst Ratings Changes

GMED has been the subject of several analyst reports. Citigroup restated a "market perform" rating on shares of Globus Medical in a research report on Thursday, January 8th. Canaccord Genuity Group increased their target price on shares of Globus Medical from $105.00 to $112.00 and gave the stock a "buy" rating in a report on Friday, January 9th. TD Cowen upgraded shares of Globus Medical to a "strong-buy" rating in a report on Tuesday, January 27th. Wall Street Zen upgraded shares of Globus Medical from a "buy" rating to a "strong-buy" rating in a report on Saturday, January 3rd. Finally, Wells Fargo & Company upgraded shares of Globus Medical to a "strong-buy" rating in a report on Wednesday, March 18th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Globus Medical currently has an average rating of "Moderate Buy" and an average target price of $104.36.

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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