Hawk Ridge Capital Management LP Acquires Shares of 499,980 Globus Medical, Inc. $GMED

Hawk Ridge Capital Management LP bought a new position in Globus Medical, Inc. (NYSE:GMED) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 499,980 shares of the medical device company’s stock, valued at approximately $43,078,000. Globus Medical makes up about 1.6% of Hawk Ridge Capital Management LP’s holdings, making the stock its 24th biggest holding. Hawk Ridge Capital Management LP owned approximately 0.37% of Globus Medical at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Maverick Capital Ltd. acquired a new position in shares of Globus Medical in the first quarter worth $1,349,000. Quantinno Capital Management LP grew its stake in Globus Medical by 142.9% in the first quarter. Quantinno Capital Management LP now owns 547,095 shares of the medical device company’s stock valued at $47,138,000 after purchasing an additional 321,824 shares in the last quarter. Lazard Asset Management LLC grew its stake in Globus Medical by 4.9% in the first quarter. Lazard Asset Management LLC now owns 113,479 shares of the medical device company’s stock valued at $9,777,000 after purchasing an additional 5,329 shares in the last quarter. Sculptor Capital LP increased its position in Globus Medical by 1.9% in the 1st quarter. Sculptor Capital LP now owns 3,058,000 shares of the medical device company’s stock worth $263,477,000 after purchasing an additional 58,000 shares during the last quarter. Finally, Broadhurst Jeffrey B purchased a new stake in shares of Globus Medical during the 1st quarter worth about $1,986,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Activity

In other news, Director David D. Davidar sold 25,000 shares of Globus Medical stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $80.76, for a total value of $2,019,000.00. Following the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 18.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on GMED shares. BMO Capital Markets began coverage on shares of Globus Medical in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $94.00 target price for the company. Truist Financial reduced their price objective on shares of Globus Medical from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Royal Bank Of Canada decreased their price objective on shares of Globus Medical from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Stifel Nicolaus lowered their target price on shares of Globus Medical from $95.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, July 8th. Finally, Zacks Research lowered Globus Medical from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Two 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.75.

Globus Medical Trading Up 2.3%

NYSE GMED opened at $78.27 on Tuesday. The company has a fifty day simple moving average of $79.77 and a 200 day simple moving average of $85.92. The company has a market cap of $10.62 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.58 and a beta of 0.95. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $101.40.

Globus Medical (NYSE:GMED) last posted its earnings results on Thursday, May 7th. The medical device company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.20. The business had revenue of $759.85 million for the quarter, compared to analyst estimates 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 was up 27.0% compared to the same quarter last year. During the same period last year, the business posted $0.68 EPS. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. Equities research analysts forecast that Globus Medical, Inc. will post 4.74 EPS for the current fiscal 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.