Globus Medical, Inc. $GMED Stock Sold by Artemis Investment Management LLP

Artemis Investment Management LLP decreased its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 5.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 541,840 shares of the medical device company’s stock after selling 31,580 shares during the period. Artemis Investment Management LLP’s holdings in Globus Medical were worth $40,584,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GMED. Paradigm Capital Management Inc. NY bought a new position in shares of Globus Medical in the second quarter worth about $70,042,000. American Capital Management Inc. purchased a new stake in Globus Medical in the 2nd quarter valued at about $51,599,000. Hawk Ridge Capital Management LP purchased a new stake in Globus Medical in the 1st quarter valued at about $43,078,000. Arrowstreet Capital Limited Partnership grew its stake in Globus Medical by 107.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 912,905 shares of the medical device company’s stock worth $78,656,000 after acquiring an additional 471,875 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Globus Medical by 4.5% during the first quarter. Janus Henderson Group PLC now owns 7,623,095 shares of the medical device company’s stock worth $656,831,000 after acquiring an additional 328,217 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Insider Transactions at Globus Medical

In other Globus Medical news, Director James Tobin sold 30,000 shares of Globus Medical stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $74.58, for a total transaction of $2,237,400.00. Following the completion of the transaction, the director owned 15,000 shares in the company, valued at approximately $1,118,700. This trade represents a 66.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen T. Zarrilli sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $87.04, for a total value of $2,176,000.00. Following the completion of the transaction, the director directly owned 25,000 shares of the company’s stock, valued at approximately $2,176,000. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 18.38% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Truist Financial dropped their price objective on Globus Medical from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Wells Fargo & Company lowered their target price on Globus Medical from $103.00 to $99.00 and set an “overweight” rating for the company in a report on Friday, August 7th. UBS Group assumed coverage on Globus Medical in a research note on Tuesday, July 28th. They set a “neutral” rating and a $82.00 price target on the stock. Piper Sandler decreased their price objective on Globus Medical from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Monday, June 15th. Finally, Royal Bank Of Canada lowered their price objective on shares of Globus Medical from $115.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, October 1st. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Globus Medical currently has an average rating of “Moderate Buy” and an average target price of $99.46.

Globus Medical Price Performance

NYSE GMED traded down $0.49 during midday trading on Thursday, hitting $73.26. 812,992 shares of the company traded hands, compared to its average volume of 1,482,020. The company has a market cap of $9.84 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 1.23 and a beta of 0.96. The company’s 50-day simple moving average is $79.35 and its 200-day simple moving average is $81.91. Globus Medical, Inc. has a 52 week low of $56.50 and a 52 week high of $101.40.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Thursday, August 6th. The medical device company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.24. The business had revenue of $789.61 million for the quarter, compared to analysts’ expectations of $782.88 million. Globus Medical had a net margin of 17.02% and a return on equity of 14.57%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business earned $0.86 EPS. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. On average, research analysts predict that Globus Medical, Inc. will post 4.99 earnings per share for the current year.

About Globus Medical

Globus Medical, Inc is a medical device company that develops musculoskeletal solutions for surgeons, hospitals and ambulatory surgery centers. Its primary focus is the design, development and commercialization of products used in spinal surgery, including implants, instruments, navigation systems and robotic-assisted technologies.

The company’s portfolio includes the ExcelsiusGPS robotic navigation platform, Excelsius3D imaging technology, spinal implants and systems for procedures such as deformity correction, degenerative spine treatment and minimally invasive surgery.