William Blair Investment Management LLC Sells 299,383 Shares of Globus Medical, Inc. $GMED

Key Points

• William Blair Investment Management reduced its Globus Medical stake by 10.6% in the fourth quarter, selling 299,383 shares and leaving it with 2.52 million shares worth about $220 million.
• Insider and institutional activity was mixed: EVP Kelly Huller sold 20,000 shares, while several large funds increased their positions; overall, 95.16% of GMED shares are held by institutional investors.
• Globus Medical posted solid results, reporting $1.12 EPS and $759.85 million in revenue for its latest quarter, both above estimates, and analysts currently rate the stock a “Moderate Buy” with an average price target of $106.36.

William Blair Investment Management LLC cut its position in Globus Medical, Inc. (NYSE:GMED - Free Report) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,519,782 shares of the medical device company's stock after selling 299,383 shares during the quarter. William Blair Investment Management LLC owned 1.88% of Globus Medical worth $220,002,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GMED. Alliancebernstein L.P. raised 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 valued at $117,700,000 after purchasing an additional 1,908,795 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its position in shares of 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 worth $51,034,000 after acquiring an additional 889,229 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 worth $115,166,000 after acquiring an additional 842,547 shares during the last quarter. Vestal Point Capital LP raised its position in shares of 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 worth $71,588,000 after acquiring an additional 750,000 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Globus Medical by 71,618.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 716,469 shares of the medical device company's stock worth $62,555,000 after acquiring an additional 715,470 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Kelly Huller sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total transaction of $1,890,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 18.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays raised their price objective on Globus Medical from $118.00 to $123.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 25th. Zacks Research upgraded Globus Medical from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 3rd. Needham & Company LLC raised their price objective on Globus Medical from $114.00 to $117.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. TD Cowen upgraded Globus Medical to a "strong-buy" rating in a research report on Tuesday, January 27th. Finally, Truist Financial set a $115.00 price objective on Globus Medical in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Globus Medical has a consensus rating of "Moderate Buy" and an average price target of $106.36.

Globus Medical Price Performance

Shares of GMED opened at $84.84 on Friday. The business has a 50-day moving average of $87.26 and a 200-day moving average of $87.80. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $101.40. The company has a market capitalization of $11.52 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00.

Globus Medical (NYSE:GMED - Get Free Report) last released its earnings results on Thursday, May 7th. The medical device company reported $1.12 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 business had revenue of $759.85 million during the quarter, compared to analysts' expectations of $740.35 million. During the same quarter last year, the firm posted $0.68 earnings per share. The firm's 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. As a group, sell-side analysts anticipate 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.

Want to see what other hedge funds are holding GMED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globus Medical, Inc. (NYSE:GMED - Free Report).

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.