32,300 Shares in Globus Medical, Inc. $GMED Bought by Louisiana State Employees Retirement System

Key Points

• Louisiana State Employees Retirement System opened a new position in Globus Medical, buying 32,300 shares valued at about $2.78 million in the first quarter.
• Institutional ownership remains very high, with hedge funds and other investors owning 95.16% of the company. Several large holders, including Invesco and Bank of Montreal, also significantly increased their stakes.
• Globus Medical recently beat quarterly expectations, posting $1.12 EPS versus $0.92 expected and revenue of $759.85 million, while analysts currently maintain a Moderate Buy rating with an average price target of $105.

Louisiana State Employees Retirement System purchased a new stake in Globus Medical, Inc. (NYSE:GMED - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 32,300 shares of the medical device company's stock, valued at approximately $2,783,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Invesco Ltd. increased its stake in Globus Medical by 1,235.2% in the 4th quarter. Invesco Ltd. now owns 3,886,405 shares of the medical device company's stock valued at $339,322,000 after purchasing an additional 3,595,339 shares in the last quarter. Bank of Montreal Can grew its holdings 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 during the last quarter. William Blair Investment Management LLC grew its holdings in Globus Medical by 17.2% in the third quarter. William Blair Investment Management LLC now owns 2,819,165 shares of the medical device company's stock valued at $161,454,000 after purchasing an additional 414,134 shares during the last quarter. Sculptor Capital LP increased its position in shares of Globus Medical by 31.9% in the second quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company's stock valued at $162,936,000 after buying an additional 667,850 shares in the last quarter. Finally, Madison Avenue Partners LP increased its position in shares of Globus Medical by 3.0% in the fourth quarter. Madison Avenue Partners LP now owns 2,624,751 shares of the medical device company's stock valued at $229,167,000 after buying an additional 76,588 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GMED shares. Wall Street Zen lowered Globus Medical from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 9th. Needham & Company LLC raised their price target on Globus Medical from $114.00 to $117.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Royal Bank Of Canada boosted their price target on Globus Medical from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Wells Fargo & Company reduced their price objective on Globus Medical from $104.00 to $103.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Finally, Zacks Research raised Globus Medical from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $105.00.

Globus Medical Trading Down 0.2%

Shares of Globus Medical stock opened at $86.05 on Monday. The business's fifty day moving average price is $83.58 and its 200 day moving average price is $87.40. Globus Medical, Inc. has a twelve month low of $51.79 and a twelve month high of $101.40. The stock has a market capitalization of $11.68 billion, a P/E ratio of 20.01, a PEG ratio of 1.78 and a beta of 0.95.

Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The medical device company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.20. The company had revenue of $759.85 million during the quarter, compared to analyst estimates of $740.35 million. Globus Medical had a net margin of 18.92% and a return on equity of 13.46%. The business's quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 earnings per share. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. As a group, sell-side analysts predict that Globus Medical, Inc. will post 4.74 EPS for the current year.

Insider Buying and Selling

In other news, Director David D. Davidar sold 25,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 510,175 shares in the company, valued at approximately $41,201,733. This represents a 4.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 18.38% of the company's stock.

Globus Medical Profile

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.

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