Globus Medical, Inc. $GMED Shares Bought by Boston Trust Walden Corp

Key Points

• Boston Trust Walden increased its Globus Medical stake by 4.4% in the third quarter, adding 69,782 shares to bring its holdings to about 1.64 million shares, worth roughly $123.1 million.
• Globus Medical beat quarterly expectations, reporting $1.34 in EPS versus $1.10 forecast and $789.6 million in revenue versus $782.9 million expected; revenue grew 5.9% year over year.
• Analysts hold a “Moderate Buy” consensus rating with an average price target of $99.46. Institutional investors own 95.16% of the company’s shares.

Boston Trust Walden Corp increased its position in Globus Medical, Inc. (NYSE:GMED - Free Report) by 4.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,643,143 shares of the medical device company's stock after purchasing an additional 69,782 shares during the period. Globus Medical makes up 1.0% of Boston Trust Walden Corp's investment portfolio, making the stock its 16th largest holding. Boston Trust Walden Corp owned about 1.22% of Globus Medical worth $123,071,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GMED. Sanctuary Advisors LLC grew its position in Globus Medical by 2.3% in the 1st quarter. Sanctuary Advisors LLC now owns 6,611 shares of the medical device company's stock valued at $570,000 after purchasing an additional 151 shares during the period. Summitry LLC increased its stake in Globus Medical by 2.6% during the 1st quarter. Summitry LLC now owns 8,205 shares of the medical device company's stock valued at $707,000 after purchasing an additional 211 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in Globus Medical by 7.8% during the third quarter. Central Pacific Bank Trust Division now owns 3,057 shares of the medical device company's stock worth $229,000 after buying an additional 220 shares during the last quarter. Arizona State Retirement System raised its holdings in Globus Medical by 0.8% during the second quarter. Arizona State Retirement System now owns 31,077 shares of the medical device company's stock worth $2,455,000 after buying an additional 252 shares during the last quarter. Finally, Angeles Wealth Management LLC raised its holdings in Globus Medical by 5.0% during the second quarter. Angeles Wealth Management LLC now owns 5,894 shares of the medical device company's stock worth $466,000 after buying an additional 280 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Stock Up 9.4%

Shares of NYSE GMED opened at $87.04 on Thursday. The company has a market capitalization of $11.69 billion, a PE ratio of 22.26, a PEG ratio of 1.28 and a beta of 0.98. The stock's 50 day moving average price is $77.48 and its 200-day moving average price is $83.35. Globus Medical, Inc. has a twelve month low of $60.26 and a twelve month high of $101.40.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The medical device company reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.24. The company had revenue of $789.61 million during the quarter, compared to the consensus estimate of $782.88 million. Globus Medical had a return on equity of 14.57% and a net margin of 17.02%. Globus Medical's revenue was up 5.9% on a year-over-year basis. During the same period last year, the business posted $0.86 earnings per share. As a group, research analysts expect that Globus Medical, Inc. will post 4.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GMED. Zacks Research raised shares of Globus Medical from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Truist Financial decreased their target price 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. Stifel Nicolaus lowered their target price on shares of Globus Medical from $95.00 to $80.00 and set a "hold" rating on the stock in a report on Wednesday, July 8th. Royal Bank Of Canada dropped their price target on shares of Globus Medical from $115.00 to $85.00 and set an "outperform" rating on the stock in a research report on Thursday, October 1st. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Globus Medical in a research report on Friday, October 9th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $99.46.

Insider Buying and Selling at Globus Medical

In other news, Director James Tobin sold 30,000 shares of the firm's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $74.58, for a total transaction of $2,237,400.00. Following the completion of the sale, the director directly owned 15,000 shares of the company's stock, valued at $1,118,700. This trade represents a 66.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen T. Zarrilli sold 25,000 shares of the firm'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 directly owned 25,000 shares of the company's stock, valued at approximately $2,176,000. This represents 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.

About Globus Medical

Globus Medical, Inc develops and commercializes musculoskeletal solutions for surgeons, hospitals and patients. The company focuses primarily on spinal, orthopedic trauma and other orthopedic procedures, offering implants, instruments and related technologies designed to support surgical treatment and improve clinical outcomes.

Its product portfolio includes spinal implants and enabling technologies, including the ExcelsiusGPS robotic navigation platform and Excelsius3D imaging system.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.