Fort Washington Investment Advisors Inc. OH Acquires 37,220 Shares of Globus Medical, Inc. $GMED

Key Points

• Fort Washington Investment Advisors increased its stake in Globus Medical by 11.6% in Q1, buying 37,220 shares and bringing its total holding to 356,811 shares worth about $30.7 million.
• Globus Medical reported strong quarterly results, with earnings of $1.12 per share on revenue of $759.85 million, both ahead of analyst expectations, and revenue rose 27% year over year.
• Analyst sentiment remains generally positive despite mixed moves, with the stock carrying a Moderate Buy consensus rating and a $105 average price target, while insider director David D. Davidar recently sold 25,000 shares.

Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 11.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 356,811 shares of the medical device company's stock after acquiring an additional 37,220 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned approximately 0.26% of Globus Medical worth $30,743,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its holdings in Globus Medical by 98.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company's stock worth $29,000 after purchasing an additional 167 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Globus Medical in the third quarter worth $26,000. EverSource Wealth Advisors LLC raised its stake in Globus Medical by 74.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company's stock worth $27,000 after acquiring an additional 197 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Globus Medical by 83.4% in the fourth quarter. Larson Financial Group LLC now owns 532 shares of the medical device company's stock worth $46,000 after purchasing an additional 242 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Globus Medical by 45.1% during the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company's stock worth $32,000 after buying an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Wall Street Analyst Weigh In

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

Globus Medical Trading Down 0.2%

GMED stock opened at $86.05 on Monday. The company's 50 day moving average is $83.58 and its two-hundred day moving average 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 cap 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 issued its quarterly earnings data on Thursday, May 7th. The medical device company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.20. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.The company had revenue of $759.85 million during the quarter, compared to analysts' expectations of $740.35 million. During the same quarter in the previous year, the business earned $0.68 earnings per share. The firm's revenue for the quarter was up 27.0% on a year-over-year basis. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. On average, equities research analysts predict that Globus Medical, Inc. will post 4.74 earnings per share for the current year.

Insider Buying and Selling

In related news, Director David D. Davidar sold 25,000 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $80.76, for a total value of $2,019,000.00. Following the sale, the director owned 510,175 shares in the company, valued at $41,201,733. This represents a 4.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 18.38% of the company's stock.

Globus Medical Company 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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