The Manufacturers Life Insurance Company Increases Holdings in Globus Medical, Inc. $GMED

The Manufacturers Life Insurance Company raised its stake in Globus Medical, Inc. (NYSE:GMED) by 2.8% during the first quarter, HoldingsChannel reports. The fund owned 1,132,278 shares of the medical device company’s stock after buying an additional 30,412 shares during the period. The Manufacturers Life Insurance Company’s holdings in Globus Medical were worth $97,557,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GMED. Invesco Ltd. raised its holdings in Globus Medical by 1,235.2% in the fourth quarter. Invesco Ltd. now owns 3,886,405 shares of the medical device company’s stock worth $339,322,000 after buying an additional 3,595,339 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Globus Medical by 15,317.1% during the fourth quarter. Bank of Montreal Can now owns 3,373,260 shares of the medical device company’s stock valued at $294,519,000 after buying an additional 3,351,380 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Globus Medical by 1,303.9% during 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 acquiring an additional 1,908,795 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Globus Medical during the fourth quarter valued at approximately $90,411,000. Finally, Norges Bank purchased a new position in Globus Medical in the 4th quarter worth approximately $89,922,000. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Stock Up 2.9%

Shares of GMED stock opened at $80.49 on Wednesday. The company has a 50 day moving average price of $79.79 and a 200-day moving average price of $85.85. Globus Medical, Inc. has a 52 week low of $51.79 and a 52 week high of $101.40. The firm has a market capitalization of $10.93 billion, a PE ratio of 18.72, a P/E/G ratio of 1.62 and a beta of 0.95.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Thursday, May 7th. The medical device company reported $1.12 earnings per share for the quarter, beating 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 company had revenue of $759.85 million for the quarter, compared to the consensus estimate of $740.35 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter 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. Analysts anticipate that Globus Medical, Inc. will post 4.74 earnings per share for the current year.

Insiders Place Their Bets

In other Globus Medical 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 18.38% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on GMED shares. Piper Sandler lowered their price objective on Globus Medical from $115.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, June 15th. Zacks Research lowered Globus Medical from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Truist Financial decreased their price target on Globus Medical from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. 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. Finally, Wall Street Zen cut Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.08.

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.