The Manufacturers Life Insurance Company Acquires 30,412 Shares of Globus Medical, Inc. $GMED

The Manufacturers Life Insurance Company boosted its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 2.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,132,278 shares of the medical device company’s stock after purchasing an additional 30,412 shares during the period. The Manufacturers Life Insurance Company owned about 0.83% of Globus Medical worth $97,557,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC increased its stake in shares of Globus Medical by 45.9% during the first quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company’s stock valued at $1,622,000 after buying an additional 7,086 shares during the period. Integrated Wealth Concepts LLC lifted its stake in Globus Medical by 33.0% in the first quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company’s stock worth $320,000 after acquiring an additional 1,085 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Globus Medical by 38.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company’s stock worth $2,228,000 after acquiring an additional 8,540 shares during the period. Jones Financial Companies Lllp boosted its holdings in Globus Medical by 237.3% in the first quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock valued at $62,000 after acquiring an additional 598 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Globus Medical by 8.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,527 shares of the medical device company’s stock valued at $25,439,000 after acquiring an additional 28,027 shares in the last quarter. 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 dated 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 18.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GMED shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Globus Medical in a research report on Monday, July 13th. Truist Financial cut their target price on shares of Globus Medical from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Needham & Company LLC boosted their price target on shares of Globus Medical from $114.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Piper Sandler reduced their price target on shares of Globus Medical from $115.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, June 15th. Finally, Zacks Research downgraded shares of Globus Medical from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Globus Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.08.

Globus Medical Stock Up 2.9%

Shares of GMED stock opened at $80.49 on Wednesday. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.62 and a beta of 0.95. The business’s fifty day moving average is $79.79 and its 200 day moving average is $85.85. Globus Medical, Inc. has a twelve month low of $51.79 and a twelve month high of $101.40.

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 the consensus estimate of $0.92 by $0.20. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.The business had revenue of $759.85 million during the quarter, compared to analyst estimates of $740.35 million. During the same quarter last year, the firm posted $0.68 earnings per share. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. Equities research analysts expect that Globus Medical, Inc. will post 4.74 earnings per share 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.