DNB Asset Management AS Lowers Stock Holdings in Globus Medical, Inc. $GMED

DNB Asset Management AS reduced its stake in Globus Medical, Inc. (NYSE:GMED) by 19.4% during the 4th quarter, HoldingsChannel reports. The firm owned 161,841 shares of the medical device company’s stock after selling 39,077 shares during the period. DNB Asset Management AS’s holdings in Globus Medical were worth $14,130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. ANTIPODES PARTNERS Ltd grew its stake in shares of Globus Medical by 1.8% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 906,833 shares of the medical device company’s stock valued at $79,182,000 after purchasing an additional 15,790 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of 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 valued at $62,555,000 after buying an additional 715,470 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Globus Medical by 1,078.9% in the 4th quarter. Bessemer Group Inc. now owns 357,886 shares of the medical device company’s stock valued at $31,247,000 after buying an additional 327,529 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Globus Medical by 25.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 65,562 shares of the medical device company’s stock valued at $5,725,000 after buying an additional 13,455 shares during the period. Finally, Leeward Investments LLC MA lifted its holdings in shares of Globus Medical by 12.6% in the 4th quarter. Leeward Investments LLC MA now owns 172,641 shares of the medical device company’s stock valued at $15,073,000 after buying an additional 19,385 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Globus Medical Stock Performance

Shares of GMED stock opened at $76.52 on Monday. The stock has a fifty day moving average price of $87.78 and a 200 day moving average price of $87.25. The stock has a market cap of $10.39 billion, a PE ratio of 17.79, a P/E/G ratio of 1.58 and a beta of 1.00. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $101.40.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Thursday, May 7th. The medical device company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.20. The firm had revenue of $759.85 million during the quarter, compared to analysts’ expectations of $740.35 million. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.Globus Medical’s revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. As a group, equities research analysts predict 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 commented on GMED. Weiss Ratings reissued a “hold (c+)” rating on shares of Globus Medical in a report on Wednesday, April 15th. Truist Financial set a $115.00 price target on Globus Medical in a report on Wednesday, February 25th. Needham & Company LLC raised their price target on Globus Medical from $114.00 to $117.00 and gave the company a “buy” rating in a report on Friday, May 8th. TD Cowen raised Globus Medical to a “strong-buy” rating in a report on Tuesday, January 27th. Finally, Wells Fargo & Company reduced their price target on Globus Medical from $104.00 to $103.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Globus Medical presently has an average rating of “Moderate Buy” and a consensus target price of $106.36.

Insiders Place Their Bets

In other Globus Medical news, EVP Kelly Huller sold 20,000 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total transaction of $1,890,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 18.38% of the company’s stock.

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.