Bank of New York Mellon Corp Trims Stock Position in Globus Medical, Inc. $GMED

Bank of New York Mellon Corp lessened its holdings in Globus Medical, Inc. (NYSE:GMED) by 1.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 742,551 shares of the medical device company’s stock after selling 10,681 shares during the period. Bank of New York Mellon Corp owned about 0.55% of Globus Medical worth $63,978,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. raised its position in Globus Medical by 1,235.2% in the fourth quarter. Invesco Ltd. now owns 3,886,405 shares of the medical device company’s stock worth $339,322,000 after acquiring an additional 3,595,339 shares during the period. Bank of Montreal Can boosted its stake in shares of Globus Medical by 15,317.1% during the 4th quarter. Bank of Montreal Can now owns 3,373,260 shares of the medical device company’s stock worth $294,519,000 after acquiring an additional 3,351,380 shares during the last quarter. Sculptor Capital LP grew its position in shares of Globus Medical by 31.9% during the 2nd quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company’s stock valued at $162,936,000 after acquiring an additional 667,850 shares during the period. Madison Avenue Partners LP grew its position in shares of Globus Medical by 3.0% during the 4th quarter. Madison Avenue Partners LP now owns 2,624,751 shares of the medical device company’s stock valued at $229,167,000 after acquiring an additional 76,588 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Globus Medical by 1,303.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company’s stock valued at $117,700,000 after acquiring an additional 1,908,795 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Performance

GMED stock opened at $75.48 on Thursday. The company’s fifty day moving average price is $79.82 and its 200-day moving average price is $86.21. Globus Medical, Inc. has a one year low of $51.79 and a one year high of $101.40. The company has a market capitalization of $10.25 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 1.57 and a beta of 0.95.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Thursday, May 7th. The medical device company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.20. The company had revenue of $759.85 million for the quarter, compared to the consensus estimate of $740.35 million. Globus Medical had a net margin of 18.92% and a return on equity of 13.46%. Globus Medical’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 EPS. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. On average, research analysts predict that Globus Medical, Inc. will post 4.74 EPS for the current fiscal year.

Insider Transactions at Globus Medical

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of the stock in a transaction on 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 completion of 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 document filed with the Securities & Exchange Commission, which is available through this link. 18.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on GMED shares. Needham & Company LLC raised their target price on Globus Medical from $114.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Piper Sandler cut their price target on Globus Medical from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Monday, June 15th. Zacks Research cut Globus Medical from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Wells Fargo & Company decreased their price objective on Globus Medical from $104.00 to $103.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Finally, Wall Street Zen cut Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Globus Medical presently has an average rating of “Moderate Buy” and an average target price of $103.75.

Globus Medical Company Profile

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.