Globus Medical, Inc. $GMED Shares Bought by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 6.2% in the third quarter, HoldingsChannel.com reports. The fund owned 451,403 shares of the medical device company’s stock after acquiring an additional 26,527 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Globus Medical were worth $33,810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Washington Trust Advisors Inc. grew its stake in Globus Medical by 116.8% in the 2nd quarter. Washington Trust Advisors Inc. now owns 45,006 shares of the medical device company’s stock valued at $3,556,000 after purchasing an additional 24,250 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Globus Medical during the 2nd quarter valued at $1,858,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Globus Medical during the 2nd quarter valued at $7,941,000. WCM Investment Management LLC purchased a new stake in shares of Globus Medical during the 1st quarter valued at $16,965,000. Finally, SG Americas Securities LLC raised its stake in shares of 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 purchasing an additional 240,642 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Trading Down 0.0%

GMED opened at $76.30 on Thursday. Globus Medical, Inc. has a 12 month low of $57.67 and a 12 month high of $101.40. The company has a market cap of $10.24 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.23 and a beta of 0.96. The company has a 50 day moving average of $78.82 and a 200 day moving average of $81.52.

Globus Medical (NYSE:GMED) last issued its earnings results on Thursday, August 6th. The medical device company reported $1.34 earnings per share (EPS) 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 business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. Research analysts forecast that Globus Medical, Inc. will post 4.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GMED shares. BTIG Research reissued a “neutral” rating on shares of Globus Medical in a report on Friday, September 18th. Truist Financial reduced their price target on shares of Globus Medical from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. UBS Group initiated coverage on shares of Globus Medical in a report on Tuesday, July 28th. They set a “neutral” rating and a $82.00 price objective for the company. BMO Capital Markets initiated coverage on shares of Globus Medical in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $94.00 price objective on the stock. Finally, Zacks Research raised shares of Globus Medical from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Globus Medical currently has an average rating of “Moderate Buy” and a consensus price target of $99.46.

Insider Buying and Selling at Globus Medical

In other news, Director James R. Tobin sold 30,000 shares of Globus Medical stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $74.58, for a total value of $2,237,400.00. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at approximately $1,118,700. The trade was a 66.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen Zarrilli sold 25,000 shares of the business’s stock in a transaction on 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 sale, the director owned 25,000 shares in the company, valued at approximately $2,176,000. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 18.38% of the stock is currently owned by insiders.

Globus Medical Profile

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.