Paradigm Capital Management Inc. NY Sells 123,500 Shares of Globus Medical, Inc. $GMED

Paradigm Capital Management Inc. NY cut its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 13.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 822,299 shares of the medical device company’s stock after selling 123,500 shares during the period. Globus Medical makes up 2.7% of Paradigm Capital Management Inc. NY’s investment portfolio, making the stock its 10th biggest holding. Paradigm Capital Management Inc. NY’s holdings in Globus Medical were worth $70,849,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Annex Advisory Services LLC purchased a new stake in shares of Globus Medical during the fourth quarter worth approximately $20,572,000. Northwestern Mutual Wealth Management Co. grew its position in Globus Medical by 71,618.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 716,469 shares of the medical device company’s stock valued at $62,555,000 after buying an additional 715,470 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in Globus Medical in the 4th quarter valued at $1,203,000. Artemis Investment Management LLP increased its stake in Globus Medical by 43.7% in the 4th quarter. Artemis Investment Management LLP now owns 738,595 shares of the medical device company’s stock valued at $64,487,000 after buying an additional 224,587 shares during the period. Finally, SG Americas Securities LLC raised its position in Globus Medical by 241.1% during the 1st quarter. SG Americas Securities LLC now owns 340,452 shares of the medical device company’s stock worth $29,333,000 after buying an additional 240,642 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Globus Medical

In other news, Director David D. Davidar sold 25,000 shares of Globus Medical stock in a transaction that occurred on 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 completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 18.38% of the company’s stock.

Analyst Ratings Changes

GMED has been the subject of several recent analyst reports. Piper Sandler reduced their target price on shares of Globus Medical from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, June 15th. BMO Capital Markets started coverage on shares of Globus Medical in a research note on Wednesday, July 8th. They set an “outperform” rating and a $94.00 price target on the stock. Wall Street Zen cut shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Truist Financial cut their price target on shares of Globus Medical from $115.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Finally, Zacks Research downgraded shares of Globus Medical from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.75.

Globus Medical Stock Up 1.4%

Shares of GMED opened at $76.46 on Friday. The company has a 50-day simple moving average of $79.79 and a 200-day simple moving average of $86.06. The company has a market capitalization of $10.38 billion, a PE ratio of 17.78, a P/E/G ratio of 1.56 and a beta of 0.95. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $101.40.

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