31,580 Globus Medical, Inc. $GMED Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP lessened its position in Globus Medical, Inc. (NYSE:GMED) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 541,840 shares of the medical device company’s stock after selling 31,580 shares during the period. Artemis Investment Management LLP owned 0.40% of Globus Medical worth $40,584,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GMED. Janus Henderson Group PLC raised its position in shares of Globus Medical by 4.5% during the first quarter. Janus Henderson Group PLC now owns 7,623,095 shares of the medical device company’s stock worth $656,831,000 after acquiring an additional 328,217 shares during the last quarter. Sculptor Capital LP grew its holdings in Globus Medical by 1.9% in the first 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 period. Madison Avenue Partners LP grew its position in Globus Medical by 3.0% in the 4th quarter. Madison Avenue Partners LP now owns 2,624,751 shares of the medical device company’s stock valued at $229,167,000 after purchasing an additional 76,588 shares during the period. Dimensional Fund Advisors LP raised its holdings in Globus Medical by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,769,897 shares of the medical device company’s stock worth $152,474,000 after buying an additional 33,976 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Globus Medical by 2.8% during the first quarter. The Manufacturers Life Insurance Company now owns 1,132,278 shares of the medical device company’s stock valued at $97,557,000 after buying an additional 30,412 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GMED. Piper Sandler lowered their target price on shares of Globus Medical from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Monday, June 15th. Truist Financial cut 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 report on Thursday, July 16th. BTIG Research restated a “neutral” rating on shares of Globus Medical in a research note on Friday, September 18th. Wells Fargo & Company cut their price objective on shares of Globus Medical from $103.00 to $99.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Finally, Stifel Nicolaus reduced their price objective on Globus Medical from $95.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Globus Medical currently has an average rating of “Moderate Buy” and a consensus target price of $99.46.

Globus Medical Stock Down 0.7%

NYSE:GMED traded down $0.49 on Thursday, hitting $73.26. The stock had a trading volume of 812,992 shares, compared to its average volume of 1,482,020. The business’s 50-day simple moving average is $79.35 and its two-hundred day simple moving average is $81.91. The stock has a market cap of $9.84 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.23 and a beta of 0.96. Globus Medical, Inc. has a 52-week low of $56.50 and a 52-week high of $101.40.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Thursday, August 6th. The medical device company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.24. Globus Medical had a net margin of 17.02% and a return on equity of 14.57%. The business had revenue of $789.61 million for the quarter, compared to the consensus estimate of $782.88 million. During the same period last year, the firm earned $0.86 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. As a group, equities research analysts anticipate that Globus Medical, Inc. will post 4.99 EPS for the current year.

Insider Activity at Globus Medical

In related news, Director Stephen T. Zarrilli sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $87.04, for a total value of $2,176,000.00. Following the sale, the director directly owned 25,000 shares in the company, valued at approximately $2,176,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Tobin sold 30,000 shares of Globus Medical stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $74.58, for a total value of $2,237,400.00. Following the completion of the sale, the director directly owned 15,000 shares in the company, valued at approximately $1,118,700. The trade was a 66.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 18.38% of the company’s stock.

Globus Medical Profile

Globus Medical, Inc is a medical device company that develops musculoskeletal solutions for surgeons, hospitals and ambulatory surgery centers. Its primary focus is the design, development and commercialization of products used in spinal surgery, including implants, instruments, navigation systems and robotic-assisted technologies.

The company’s portfolio includes the ExcelsiusGPS robotic navigation platform, Excelsius3D imaging technology, spinal implants and systems for procedures such as deformity correction, degenerative spine treatment and minimally invasive surgery.