Globus Medical, Inc. $GMED Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its stake in Globus Medical, Inc. (NYSE:GMED) by 6.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 525,419 shares of the medical device company’s stock after selling 39,063 shares during the period. Royal Bank of Canada’s holdings in Globus Medical were worth $45,270,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Sanctuary Advisors LLC grew its holdings in Globus Medical by 2.3% during the first quarter. Sanctuary Advisors LLC now owns 6,611 shares of the medical device company’s stock worth $570,000 after acquiring an additional 151 shares during the period. SBI Securities Co. Ltd. boosted its position in Globus Medical by 98.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company’s stock worth $29,000 after purchasing an additional 167 shares in the last quarter. Parallel Advisors LLC boosted its position in Globus Medical by 45.1% in the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock worth $32,000 after purchasing an additional 173 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Globus Medical by 74.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after purchasing an additional 197 shares during the period. Finally, Allworth Financial LP grew its stake in shares of Globus Medical by 1.6% during the 4th quarter. Allworth Financial LP now owns 12,545 shares of the medical device company’s stock worth $1,095,000 after purchasing an additional 199 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Up 0.3%

Shares of NYSE GMED opened at $78.99 on Monday. The firm has a market cap of $10.72 billion, a price-to-earnings ratio of 18.37, a price-to-earnings-growth ratio of 1.63 and a beta of 0.95. The company’s 50-day simple moving average is $79.53 and its 200-day simple moving average is $85.57. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $101.40.

Globus Medical (NYSE:GMED) last released its quarterly earnings results 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. Globus Medical had a net margin of 18.92% and a return on equity of 13.46%. The firm had revenue of $759.85 million during the quarter, compared to the consensus estimate of $740.35 million. During the same quarter in the prior year, the firm earned $0.68 EPS. 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 anticipate that Globus Medical, Inc. will post 4.74 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on GMED. Weiss Ratings reiterated a “hold (c+)” rating on shares of Globus Medical in a research note on Monday, July 13th. Truist Financial cut their price objective on shares of Globus Medical from $115.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Wells Fargo & Company decreased their price objective on shares of Globus Medical from $104.00 to $103.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. UBS Group assumed coverage on Globus Medical in a research report on Tuesday, July 28th. They set a “neutral” rating and a $82.00 target price on the stock. Finally, Needham & Company LLC upped their price target on Globus Medical from $114.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.08.

Insider Buying and Selling at Globus Medical

In other news, Director David D. Davidar sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $80.76, for a total value of $2,019,000.00. Following the transaction, the director owned 510,175 shares in the company, valued at $41,201,733. This trade represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 18.38% of the stock is currently owned by company insiders.

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.