Bank of New York Mellon Corp Sells 10,681 Shares of Globus Medical, Inc. $GMED

Bank of New York Mellon Corp cut its stake in Globus Medical, Inc. (NYSE:GMED) by 1.4% in the first quarter, Holdings Channel reports. The institutional investor owned 742,551 shares of the medical device company’s stock after selling 10,681 shares during the period. Bank of New York Mellon Corp’s holdings in Globus Medical were worth $63,978,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Advisory Services Network LLC bought a new position in Globus Medical during the third quarter valued at $26,000. EverSource Wealth Advisors LLC raised its stake in shares of Globus Medical by 74.3% in the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 197 shares during the period. SBI Securities Co. Ltd. lifted its holdings in shares of Globus Medical by 98.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company’s stock worth $29,000 after acquiring an additional 167 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Globus Medical by 45.1% in the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock worth $32,000 after acquiring an additional 173 shares during the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of Globus Medical by 485.4% during the 2nd quarter. Headlands Technologies LLC now owns 761 shares of the medical device company’s stock worth $45,000 after purchasing an additional 631 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on GMED shares. Zacks Research downgraded shares of Globus Medical from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Royal Bank Of Canada decreased their price objective on shares of Globus Medical from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Truist Financial dropped their target price on Globus Medical from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Needham & Company LLC upped their target price on Globus Medical from $114.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, BMO Capital Markets assumed coverage on Globus Medical in a report on Wednesday, July 8th. They issued an “outperform” rating and a $94.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.75.

Globus Medical Trading Down 0.8%

GMED opened at $75.48 on Thursday. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $101.40. The business’s fifty day simple moving average is $79.82 and its 200-day simple moving average is $86.21. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.57 and a beta of 0.95.

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 the consensus estimate of $0.92 by $0.20. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.The firm had revenue of $759.85 million during the quarter, compared to the consensus estimate of $740.35 million. During the same period in the previous year, the company posted $0.68 earnings per share. The firm’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, equities research analysts predict that Globus Medical, Inc. will post 4.74 EPS for the current year.

Insider Buying and Selling

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of the firm’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 transaction, the director owned 510,175 shares of the company’s stock, valued at approximately $41,201,733. This trade represents a 4.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company 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.