Principal Financial Group Inc. Acquires 9,110 Shares of Globus Medical, Inc. $GMED

Principal Financial Group Inc. increased its stake in Globus Medical, Inc. (NYSE:GMED) by 3.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 248,695 shares of the medical device company’s stock after purchasing an additional 9,110 shares during the quarter. Principal Financial Group Inc.’s holdings in Globus Medical were worth $21,428,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Invesco Ltd. boosted its stake 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 in the last quarter. Bank of Montreal Can increased its stake in Globus Medical by 15,317.1% in the fourth 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 in the last quarter. Alliancebernstein L.P. increased its stake in Globus Medical by 1,303.9% in the third 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. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Globus Medical during the fourth quarter valued at about $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.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GMED shares. Zacks Research downgraded Globus Medical from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Wells Fargo & Company cut 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Globus Medical in a research note on Monday, July 13th. Royal Bank Of Canada decreased their price objective on Globus Medical from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Finally, Piper Sandler lowered their target price on Globus Medical from $115.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $103.75.

Insider Activity at Globus Medical

In related news, Director David D. Davidar sold 25,000 shares of Globus Medical stock in a transaction on Friday, June 5th. The stock was 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 in the company, valued at approximately $41,201,733. This trade represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 18.38% of the company’s stock.

Globus Medical Stock Performance

Globus Medical stock opened at $75.99 on Wednesday. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week high of $101.40. The firm’s 50-day simple moving average is $79.82 and its 200 day simple moving average is $86.29. The stock has a market cap of $10.31 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 1.57 and a beta of 0.95.

Globus Medical (NYSE:GMED) last posted 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. Globus Medical had a net margin of 18.92% and a return on equity of 13.46%. The firm had revenue of $759.85 million for the quarter, compared to analysts’ expectations of $740.35 million. During the same quarter last year, the firm earned $0.68 EPS. The company’s quarterly 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. As a group, analysts predict that Globus Medical, Inc. will post 4.74 EPS for the current fiscal year.

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.