Globus Medical, Inc. $GMED Shares Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio raised its holdings in Globus Medical, Inc. (NYSE:GMED - Free Report) by 192.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,563 shares of the medical device company's stock after buying an additional 66,173 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.07% of Globus Medical worth $8,665,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Compound Planning Inc. acquired a new position in shares of Globus Medical in the 1st quarter valued at $226,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Globus Medical by 107.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 912,905 shares of the medical device company's stock valued at $78,656,000 after buying an additional 471,875 shares during the period. Lido Advisors LLC acquired a new stake in shares of Globus Medical during the 1st quarter worth $221,000. Globeflex Capital L P increased its holdings in shares of Globus Medical by 212.2% during the 1st quarter. Globeflex Capital L P now owns 6,198 shares of the medical device company's stock worth $534,000 after buying an additional 4,213 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Globus Medical by 11.7% in the 1st quarter. Cetera Investment Advisers now owns 42,497 shares of the medical device company's stock worth $3,662,000 after buying an additional 4,464 shares during the period. Institutional investors and hedge funds own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GMED shares. Needham & Company LLC lifted their target price on Globus Medical from $114.00 to $117.00 and gave the company a "buy" rating in a report on Friday, May 8th. Wall Street Zen downgraded Globus Medical from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 9th. BMO Capital Markets began coverage on Globus Medical in a report on Wednesday, July 8th. They issued an "outperform" rating and a $94.00 price objective on the stock. Truist Financial reduced their price objective on Globus Medical from $115.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, July 16th. Finally, Piper Sandler decreased their target price on Globus Medical from $115.00 to $100.00 and set an "overweight" rating for the company in a report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $103.75.

Globus Medical Stock Performance

NYSE:GMED opened at $78.27 on Tuesday. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 1.58 and a beta of 0.95. Globus Medical, Inc. has a one year low of $51.79 and a one year high of $101.40. The business's 50-day simple moving average is $79.77 and its 200 day simple moving average is $85.92.

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 firm had revenue of $759.85 million during the quarter, compared to analyst estimates of $740.35 million. During the same quarter last year, the firm earned $0.68 EPS. Globus Medical's quarterly revenue 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 EPS for the current year.

Insider Buying and Selling at Globus Medical

In related news, Director David D. Davidar sold 25,000 shares of Globus Medical stock in a transaction on Friday, June 5th. The shares were sold at an average price of $80.76, for a total value of $2,019,000.00. Following the completion of the sale, the director owned 510,175 shares in the company, valued at approximately $41,201,733. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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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