Horizon Investment Services LLC Buys New Stake in Globus Medical, Inc. $GMED

Horizon Investment Services LLC purchased a new position in Globus Medical, Inc. (NYSE:GMED) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 17,621 shares of the medical device company’s stock, valued at approximately $1,538,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Advisory Services Network LLC purchased a new stake in shares of Globus Medical during the third quarter worth $26,000. EverSource Wealth Advisors LLC boosted its stake in Globus Medical by 74.3% during the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after buying an additional 197 shares during the period. SBI Securities Co. Ltd. boosted its stake in Globus Medical by 98.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company’s stock worth $29,000 after buying an additional 167 shares during the period. Parallel Advisors LLC boosted its stake in Globus Medical by 45.1% during the third quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock worth $32,000 after buying an additional 173 shares during the period. Finally, Headlands Technologies LLC boosted its stake in Globus Medical by 485.4% during the second quarter. Headlands Technologies LLC now owns 761 shares of the medical device company’s stock worth $45,000 after buying an additional 631 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GMED. Truist Financial set a $115.00 target price on shares of Globus Medical in a research note on Wednesday, February 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Globus Medical in a research note on Wednesday, April 15th. Needham & Company LLC upped their price objective on Globus Medical from $114.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Royal Bank Of Canada increased their price objective on Globus Medical from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Wall Street Zen lowered Globus Medical from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.36.

Insider Buying and Selling

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were 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 $41,201,733. This represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.38% of the stock is owned by corporate insiders.

Globus Medical Trading Down 0.1%

Shares of NYSE:GMED opened at $80.44 on Friday. Globus Medical, Inc. has a 52 week low of $51.79 and a 52 week high of $101.40. The company’s 50 day moving average is $85.77 and its two-hundred day moving average is $88.10. The company has a market cap of $10.92 billion, a PE ratio of 18.71, a P/E/G ratio of 1.66 and a beta of 0.95.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Thursday, May 7th. The medical device company reported $1.12 EPS 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 period in the prior year, the firm posted $0.68 EPS. The company’s quarterly revenue 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. As a group, equities research analysts expect that Globus Medical, Inc. will post 4.74 EPS for the current year.

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.