Hsbc Holdings PLC Sells 11,025 Shares of Globus Medical, Inc. $GMED

Hsbc Holdings PLC lowered its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 43.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,629 shares of the medical device company’s stock after selling 11,025 shares during the quarter. Hsbc Holdings PLC’s holdings in Globus Medical were worth $1,258,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Summit Securities Group LLC bought a new stake in shares of Globus Medical during the first quarter worth $48,000. Oregon Public Employees Retirement Fund grew its holdings in shares of Globus Medical by 2.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 22,860 shares of the medical device company’s stock worth $1,970,000 after purchasing an additional 600 shares during the last quarter. Burney Co. bought a new position in shares of Globus Medical in the first quarter worth about $1,064,000. Swedbank AB increased its stake in Globus Medical by 6.0% in the 1st quarter. Swedbank AB now owns 562,403 shares of the medical device company’s stock worth $48,457,000 after buying an additional 32,000 shares during the period. Finally, Praxis Investment Management Inc. increased its stake in Globus Medical by 47.5% in the 1st quarter. Praxis Investment Management Inc. now owns 3,644 shares of the medical device company’s stock worth $314,000 after buying an additional 1,174 shares during the period. Institutional investors own 95.16% of the company’s stock.

Insider Transactions at Globus Medical

In related news, Director David D. Davidar sold 25,000 shares of the business’s 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 completion of the transaction, the director owned 510,175 shares of the company’s stock, valued at $41,201,733. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 18.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GMED shares. Stifel Nicolaus lowered their price objective on shares of Globus Medical from $95.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, July 8th. Zacks Research lowered shares of Globus Medical from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Truist Financial decreased their price target 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. Needham & Company LLC boosted 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. Finally, Wells Fargo & Company lowered 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 issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Globus Medical has an average rating of “Moderate Buy” and an average price target of $103.75.

Globus Medical Price Performance

NYSE:GMED opened at $78.27 on Tuesday. Globus Medical, Inc. has a 1-year low of $51.79 and a 1-year high of $101.40. The company has a 50-day moving average of $79.77 and a 200 day moving average of $85.92. The firm has a market cap of $10.62 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 1.58 and a beta of 0.95.

Globus Medical (NYSE:GMED) last issued its earnings results 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. 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 analysts’ expectations of $740.35 million. During the same period in the prior year, the business earned $0.68 EPS. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. Sell-side analysts anticipate that Globus Medical, Inc. will post 4.74 EPS for the current fiscal 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.