Prudential PLC Reduces Stock Position in Globus Medical, Inc. $GMED

Prudential PLC lowered its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 25.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,037 shares of the medical device company’s stock after selling 7,243 shares during the quarter. Prudential PLC’s holdings in Globus Medical were worth $1,837,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Alliancebernstein L.P. raised its stake in shares of Globus Medical by 1,303.9% in 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 purchasing an additional 1,908,795 shares in the last quarter. Norges Bank acquired a new position in Globus Medical in the fourth quarter worth $89,922,000. ANTIPODES PARTNERS Ltd boosted its holdings in Globus Medical by 49,020.3% in the third quarter. ANTIPODES PARTNERS Ltd now owns 891,043 shares of the medical device company’s stock worth $51,034,000 after purchasing an additional 889,229 shares during the period. Dimensional Fund Advisors LP increased its stake in Globus Medical by 72.1% during the third quarter. Dimensional Fund Advisors LP now owns 2,011,104 shares of the medical device company’s stock valued at $115,166,000 after purchasing an additional 842,547 shares during the last quarter. Finally, Vestal Point Capital LP raised its holdings in shares of Globus Medical by 150.0% during the third quarter. Vestal Point Capital LP now owns 1,250,000 shares of the medical device company’s stock worth $71,588,000 after purchasing an additional 750,000 shares during the period. Institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Up 0.2%

GMED stock opened at $80.13 on Monday. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $101.40. The company’s fifty day simple moving average is $86.27 and its 200 day simple moving average is $88.25. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.65 and a beta of 0.95.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, May 7th. The medical device company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.92 by $0.20. The business had revenue of $759.85 million during the quarter, compared to analysts’ expectations of $740.35 million. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.The firm’s revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. Research analysts expect that Globus Medical, Inc. will post 4.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GMED. Needham & Company LLC boosted their price objective on Globus Medical from $114.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Globus Medical in a research note on Wednesday, April 15th. Zacks Research upgraded shares of Globus Medical from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Wall Street Zen lowered shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Wells Fargo & Company dropped their price target on Globus Medical from $104.00 to $103.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Globus Medical presently has a consensus rating of “Moderate Buy” and an average price target of $106.36.

Globus Medical 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.