Boston Trust Walden Corp Purchases 182,526 Shares of Globus Medical, Inc. $GMED

Key Points

• Boston Trust Walden Corp increased its stake in Globus Medical by 15.4% in Q4, buying 182,526 shares to hold 1,367,987 shares worth about $119.44 million, making it the firm's 17th-largest position.
• Wall Street sentiment is broadly positive—MarketBeat reports a consensus rating of “Moderate Buy” with a $104.36 average price target—and Globus recently beat estimates (Q4 EPS $1.28 vs. $1.06 est.; revenue $826.42M, up 25.7% YoY).
• The stock is heavily institutionally held (reported 95.16% by institutions), and an insider transaction saw EVP Kelly Huller sell 20,000 shares on Feb. 25 for about $1.89 million.

Boston Trust Walden Corp increased its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 15.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,367,987 shares of the medical device company's stock after buying an additional 182,526 shares during the period. Globus Medical accounts for approximately 0.9% of Boston Trust Walden Corp's holdings, making the stock its 17th biggest position. Boston Trust Walden Corp owned about 1.02% of Globus Medical worth $119,439,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Advisory Services Network LLC bought a new stake in Globus Medical in the 3rd quarter valued at $26,000. EverSource Wealth Advisors LLC grew its position in Globus Medical by 74.3% during the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company's stock worth $27,000 after buying an additional 197 shares in the last quarter. First Horizon Corp acquired a new stake in Globus Medical during the third quarter worth about $31,000. Parallel Advisors LLC increased its stake in Globus Medical by 45.1% during the third quarter. Parallel Advisors LLC now owns 557 shares of the medical device company's stock valued at $32,000 after acquiring an additional 173 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Globus Medical in the 3rd quarter valued at approximately $36,000. 95.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GMED has been the subject of a number of recent research reports. Wells Fargo & Company upgraded Globus Medical to a "strong-buy" rating in a research note on Wednesday, March 18th. BTIG Research restated a "neutral" rating on shares of Globus Medical in a research note on Tuesday, December 30th. Canaccord Genuity Group lifted their target price on shares of Globus Medical from $105.00 to $112.00 and gave the company a "buy" rating in a research report on Friday, January 9th. Zacks Research raised shares of Globus Medical from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Globus Medical in a research report on Wednesday, April 15th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Globus Medical presently has an average rating of "Moderate Buy" and a consensus price target of $104.36.

Globus Medical Stock Performance

Shares of NYSE GMED opened at $93.75 on Wednesday. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $101.40. The business has a fifty day moving average of $89.58 and a two-hundred day moving average of $84.38. The stock has a market cap of $12.68 billion, a PE ratio of 23.79, a PEG ratio of 2.26 and a beta of 1.09.

Globus Medical (NYSE:GMED - Get Free Report) last issued its earnings results on Tuesday, February 24th. The medical device company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.06 by $0.22. The company had revenue of $826.42 million for the quarter, compared to the consensus estimate of $803.29 million. Globus Medical had a net margin of 18.30% and a return on equity of 12.57%. The firm's revenue for the quarter was up 25.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 EPS. Analysts predict that Globus Medical, Inc. will post 4.46 earnings per share for the current year.

Insider Activity

In related news, EVP Kelly Huller sold 20,000 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $94.50, for a total transaction of $1,890,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 18.54% of the stock is owned by company insiders.

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.

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