Legal & General Group Plc Lowers Stock Position in Globus Medical, Inc. $GMED

Legal & General Group Plc reduced its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 9.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 330,886 shares of the medical device company’s stock after selling 33,006 shares during the period. Legal & General Group Plc’s holdings in Globus Medical were worth $28,890,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. William Blair Investment Management LLC lifted its position in shares of Globus Medical by 17.2% during the 3rd quarter. William Blair Investment Management LLC now owns 2,819,165 shares of the medical device company’s stock valued at $161,454,000 after buying an additional 414,134 shares in the last quarter. Sculptor Capital LP lifted its position in shares of Globus Medical by 31.9% during the 2nd 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 in the last quarter. Alliancebernstein L.P. lifted its holdings in Globus Medical by 1,303.9% in the 3rd quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company’s stock worth $117,700,000 after purchasing an additional 1,908,795 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Globus Medical by 72.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,011,104 shares of the medical device company’s stock worth $115,166,000 after purchasing an additional 842,547 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in Globus Medical by 8.3% in the 3rd quarter. Marshall Wace LLP now owns 1,711,909 shares of the medical device company’s stock worth $98,041,000 after purchasing an additional 131,433 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barclays boosted their price target on Globus Medical from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Truist Financial set a $115.00 price target on Globus Medical in a report on Wednesday, February 25th. Wells Fargo & Company lowered their price target on Globus Medical from $104.00 to $103.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Royal Bank Of Canada boosted their price target on Globus Medical from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Globus Medical in a report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.36.

Globus Medical Price Performance

NYSE:GMED opened at $82.00 on Friday. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $101.40. The stock’s 50 day simple moving average is $87.01 and its two-hundred day simple moving average is $88.41. The company has a market cap of $11.13 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.69 and a beta of 1.00.

Globus Medical (NYSE:GMED) last released its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $740.35 million. During the same quarter in the previous year, the company posted $0.68 EPS. The company’s revenue was up 27.0% compared to the same quarter last year. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. As a group, 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.