Principal Financial Group Inc. Has $21.43 Million Position in Globus Medical, Inc. $GMED

Principal Financial Group Inc. lifted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 248,695 shares of the medical device company’s stock after purchasing an additional 9,110 shares during the quarter. Principal Financial Group Inc. owned 0.18% of Globus Medical worth $21,428,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Annex Advisory Services LLC acquired a new stake in shares of Globus Medical during the 4th quarter valued at $20,572,000. Northwestern Mutual Wealth Management Co. increased its holdings in Globus Medical by 71,618.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 716,469 shares of the medical device company’s stock worth $62,555,000 after purchasing an additional 715,470 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Globus Medical by 510.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 266,532 shares of the medical device company’s stock worth $23,271,000 after purchasing an additional 222,841 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in Globus Medical in the fourth quarter valued at about $1,203,000. Finally, Artemis Investment Management LLP raised its position in Globus Medical by 43.7% in the fourth quarter. Artemis Investment Management LLP now owns 738,595 shares of the medical device company’s stock valued at $64,487,000 after purchasing an additional 224,587 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Globus Medical

In related news, Director David D. Davidar sold 25,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $80.76, for a total value of $2,019,000.00. Following the transaction, the director owned 510,175 shares in the company, valued at $41,201,733. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.38% of the stock is currently owned by insiders.

Globus Medical Price Performance

Shares of GMED stock opened at $75.99 on Wednesday. The stock has a market capitalization of $10.31 billion, a PE ratio of 17.67, a PEG ratio of 1.57 and a beta of 0.95. The business’s 50 day simple moving average is $79.82 and its 200 day simple moving average is $86.29. Globus Medical, Inc. has a one year low of $51.79 and a one year high of $101.40.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results 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 net margin of 18.92% and a return on equity of 13.46%. 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 previous year, the company earned $0.68 EPS. The company’s revenue for the quarter 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, research analysts expect that Globus Medical, Inc. will post 4.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GMED. Stifel Nicolaus reduced their price target on Globus Medical from $95.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Globus Medical in a report on Monday, July 13th. Wells Fargo & Company decreased their price target on shares of Globus Medical from $104.00 to $103.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Finally, Zacks Research lowered shares of Globus Medical from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.75.

Globus Medical 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.