Norges Bank Invests $89.92 Million in Globus Medical, Inc. $GMED

Norges Bank acquired a new position in shares of Globus Medical, Inc. (NYSE:GMED) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,029,913 shares of the medical device company’s stock, valued at approximately $89,922,000.

Several other hedge funds have also recently bought and sold shares of GMED. Alliancebernstein L.P. raised its holdings 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 buying an additional 1,908,795 shares during the period. ANTIPODES PARTNERS Ltd raised its position in Globus Medical by 49,020.3% in the third quarter. ANTIPODES PARTNERS Ltd now owns 891,043 shares of the medical device company’s stock valued at $51,034,000 after purchasing an additional 889,229 shares during the period. Dimensional Fund Advisors LP raised its position in Globus Medical by 72.1% in the third quarter. Dimensional Fund Advisors LP now owns 2,011,104 shares of the medical device company’s stock valued at $115,166,000 after purchasing an additional 842,547 shares during the period. Vestal Point Capital LP raised its position in Globus Medical by 150.0% in the third quarter. Vestal Point Capital LP now owns 1,250,000 shares of the medical device company’s stock valued at $71,588,000 after purchasing an additional 750,000 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in Globus Medical by 71,618.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 716,469 shares of the medical device company’s stock valued at $62,555,000 after purchasing an additional 715,470 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Up 0.2%

GMED opened at $80.13 on Friday. The firm has a market capitalization of $10.88 billion, a P/E ratio of 18.63, a P/E/G ratio of 1.65 and a beta of 0.95. The firm’s 50 day moving average is $86.27 and its 200-day moving average is $88.21. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $101.40.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Thursday, May 7th. The medical device company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.20. Globus Medical had a net margin of 18.92% and a return on equity of 13.46%. The company had revenue of $759.85 million for the quarter, compared to analyst estimates of $740.35 million. During the same quarter last year, the firm posted $0.68 earnings per share. The business’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. Equities analysts expect that Globus Medical, Inc. will post 4.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

GMED has been the subject of a number of recent research reports. Needham & Company LLC increased 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. Wells Fargo & Company lowered their target price on Globus Medical from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Wall Street Zen lowered shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Royal Bank Of Canada lifted their price objective on shares of Globus Medical from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Truist Financial set a $115.00 price objective on shares of Globus Medical in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.36.

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.