Hawk Ridge Capital Management LP Invests $43.08 Million in Globus Medical, Inc. $GMED

Hawk Ridge Capital Management LP acquired a new stake in Globus Medical, Inc. (NYSE:GMED) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 499,980 shares of the medical device company’s stock, valued at approximately $43,078,000. Globus Medical accounts for 1.6% of Hawk Ridge Capital Management LP’s portfolio, making the stock its 24th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. increased its position in Globus Medical by 1,235.2% during 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 holdings in Globus Medical by 15,317.1% in the 4th quarter. Bank of Montreal Can now owns 3,373,260 shares of the medical device company’s stock valued at $294,519,000 after purchasing an additional 3,351,380 shares during the period. Alliancebernstein L.P. grew its position in 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 worth $117,700,000 after purchasing an additional 1,908,795 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Globus Medical in the 4th quarter worth $90,411,000. Finally, Norges Bank bought a new position in shares of Globus Medical during the 4th quarter worth about $89,922,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analysts Set New Price Targets

GMED has been the subject of a number of research analyst reports. 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 research report on Thursday, July 16th. BMO Capital Markets began coverage on Globus Medical in a research report on Wednesday, July 8th. They set an “outperform” rating and a $94.00 target price on the stock. 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. Needham & Company LLC upped their price target on Globus Medical from $114.00 to $117.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Wall Street Zen lowered Globus Medical from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.75.

Insiders Place Their Bets

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 510,175 shares of the company’s stock, valued at approximately $41,201,733. This represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 18.38% of the company’s stock.

Globus Medical Stock Up 2.3%

NYSE:GMED opened at $78.27 on Tuesday. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $101.40. The firm has a market capitalization of $10.62 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 1.58 and a beta of 0.95. The firm has a 50-day moving average price of $79.77 and a 200 day moving average price of $85.92.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, May 7th. The medical device company reported $1.12 earnings per share for the quarter, beating 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 company had revenue of $759.85 million for the quarter, compared to the consensus estimate of $740.35 million. During the same period in the previous year, the business earned $0.68 earnings per share. The company’s quarterly revenue was up 27.0% on a year-over-year basis. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. On average, research analysts expect that Globus Medical, Inc. will post 4.74 EPS for the current year.

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.