Assenagon Asset Management S.A. Trims Stock Position in Globus Medical, Inc. $GMED

Assenagon Asset Management S.A. decreased its stake in Globus Medical, Inc. (NYSE:GMED) by 50.2% during the first quarter, Holdings Channel reports. The institutional investor owned 132,670 shares of the medical device company’s stock after selling 133,862 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Globus Medical were worth $11,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. increased its stake in shares of Globus Medical by 1,235.2% in the 4th quarter. Invesco Ltd. now owns 3,886,405 shares of the medical device company’s stock valued at $339,322,000 after purchasing an additional 3,595,339 shares in the last quarter. Bank of Montreal Can boosted its position in Globus Medical by 15,317.1% during the fourth quarter. Bank of Montreal Can now owns 3,373,260 shares of the medical device company’s stock worth $294,519,000 after purchasing an additional 3,351,380 shares in the last quarter. William Blair Investment Management LLC boosted its position in Globus Medical by 17.2% during the third quarter. William Blair Investment Management LLC now owns 2,819,165 shares of the medical device company’s stock worth $161,454,000 after purchasing an additional 414,134 shares in the last quarter. Sculptor Capital LP grew its holdings in Globus Medical by 31.9% in the second quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company’s stock valued at $162,936,000 after purchasing an additional 667,850 shares during the period. Finally, Madison Avenue Partners LP grew its holdings in Globus Medical by 3.0% in the fourth quarter. Madison Avenue Partners LP now owns 2,624,751 shares of the medical device company’s stock valued at $229,167,000 after purchasing an additional 76,588 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GMED. Wall Street Zen lowered shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Piper Sandler decreased their price objective on shares of Globus Medical from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Monday, June 15th. Wells Fargo & Company dropped their target price on shares of Globus Medical from $104.00 to $103.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Needham & Company LLC boosted their target price on shares of Globus Medical from $114.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Zacks Research upgraded shares of Globus Medical from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $105.00.

Globus Medical Stock Performance

GMED stock opened at $86.05 on Friday. Globus Medical, Inc. has a one year low of $51.79 and a one year high of $101.40. The firm has a market cap of $11.68 billion, a PE ratio of 20.01, a PEG ratio of 1.78 and a beta of 0.95. The firm’s 50 day moving average price is $83.58 and its 200-day moving average price is $87.41.

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 analysts’ consensus estimates 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 analysts’ expectations of $740.35 million. During the same period in the prior year, the business posted $0.68 EPS. The company’s revenue was up 27.0% compared to the same quarter last year. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. Equities research analysts predict that Globus Medical, Inc. will post 4.74 EPS for the current fiscal year.

Insider Activity at Globus Medical

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of the business’s stock in a transaction 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 in the company, 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 the SEC website. Insiders own 18.38% of the company’s stock.

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.