Norges Bank Purchases New Shares in Globus Medical, Inc. $GMED

Norges Bank purchased a new stake in Globus Medical, Inc. (NYSE:GMED) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,029,913 shares of the medical device company’s stock, valued at approximately $89,922,000. Norges Bank owned about 0.77% of Globus Medical at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GMED. AQR Capital Management LLC increased its stake in Globus Medical by 45.9% in the 1st 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 increased its stake in Globus Medical by 33.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company’s stock valued at $320,000 after buying an additional 1,085 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Globus Medical by 38.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company’s stock valued at $2,228,000 after buying an additional 8,540 shares during the period. Jones Financial Companies Lllp increased its stake in Globus Medical by 237.3% in the 1st quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock valued at $62,000 after buying an additional 598 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Globus Medical by 8.8% in the 1st 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 buying an additional 28,027 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GMED. Wells Fargo & Company dropped their price objective on shares of Globus Medical from $104.00 to $103.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Zacks Research raised shares of Globus Medical from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Barclays boosted their price objective on shares of Globus Medical from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Needham & Company LLC boosted their price objective on shares of Globus Medical from $114.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Wall Street Zen cut shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and an average target price of $106.36.

Globus Medical Trading Up 0.2%

NYSE:GMED opened at $80.13 on Friday. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 1.65 and a beta of 0.95. The company’s 50-day moving average is $86.27 and its two-hundred day moving average is $88.21. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-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 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.20. The business had revenue of $759.85 million for the quarter, compared to analyst estimates of $740.35 million. Globus Medical had a net margin of 18.92% and a return on equity of 13.46%. The company’s revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. On average, equities research analysts forecast 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.