Hsbc Holdings PLC Cuts Stock Position in Globus Medical, Inc. $GMED

Hsbc Holdings PLC cut its position in Globus Medical, Inc. (NYSE:GMED) by 43.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,629 shares of the medical device company’s stock after selling 11,025 shares during the quarter. Hsbc Holdings PLC’s holdings in Globus Medical were worth $1,258,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of Globus Medical during the first quarter valued at about $48,000. Oregon Public Employees Retirement Fund grew its position in shares of Globus Medical by 2.7% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 22,860 shares of the medical device company’s stock worth $1,970,000 after buying an additional 600 shares during the last quarter. Burney Co. purchased a new position in shares of Globus Medical in the 1st quarter worth approximately $1,064,000. Swedbank AB grew its position in shares of Globus Medical by 6.0% in the 1st quarter. Swedbank AB now owns 562,403 shares of the medical device company’s stock worth $48,457,000 after buying an additional 32,000 shares during the last quarter. Finally, Praxis Investment Management Inc. raised its stake in shares of Globus Medical by 47.5% during the 1st quarter. Praxis Investment Management Inc. now owns 3,644 shares of the medical device company’s stock worth $314,000 after acquiring an additional 1,174 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Stock Up 2.3%

GMED opened at $78.27 on Tuesday. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $101.40. The company has a market cap of $10.62 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 1.58 and a beta of 0.95. The firm’s 50-day moving average price is $79.77 and its 200-day moving average price is $85.92.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, May 7th. The medical device company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.20. The company had revenue of $759.85 million during the quarter, compared to analysts’ expectations of $740.35 million. Globus Medical had a net margin of 18.92% and a return on equity of 13.46%. Globus Medical’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period last year, the business earned $0.68 EPS. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. On average, research analysts anticipate that Globus Medical, Inc. will post 4.74 EPS for the current fiscal year.

Insider Activity

In other news, Director David D. Davidar sold 25,000 shares of Globus Medical stock in a transaction on Friday, June 5th. The shares were sold at an average price of $80.76, for a total transaction of $2,019,000.00. Following the completion of the sale, the director directly owned 510,175 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Corporate insiders own 18.38% of the company’s stock.

Wall Street Analyst Weigh In

GMED has been the subject of a number of analyst reports. Needham & Company LLC increased their target price on shares of Globus Medical from $114.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Globus Medical in a report on Monday, July 13th. Wall Street Zen downgraded Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Royal Bank Of Canada decreased their price objective on Globus Medical from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Finally, Zacks Research cut Globus Medical from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Globus Medical has a consensus rating of “Moderate Buy” and a consensus target price of $103.75.

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.