Strs Ohio Increases Stock Position in Globus Medical, Inc. $GMED

Key Points

• Strs Ohio increased its stake in Globus Medical by 29.7% in the first quarter, ending with 110,782 shares worth about $9.5 million.
• Globus Medical reported better-than-expected quarterly results, posting $1.12 EPS on revenue of $759.85 million, with revenue up 27% year over year.
• Analyst sentiment remains generally positive, with a Moderate Buy consensus and an average price target of $105, though one director recently sold 25,000 shares.

Strs Ohio boosted its position in Globus Medical, Inc. (NYSE:GMED - Free Report) by 29.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 110,782 shares of the medical device company's stock after acquiring an additional 25,396 shares during the period. Strs Ohio owned 0.08% of Globus Medical worth $9,545,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Invesco Ltd. boosted its holdings in shares of Globus Medical by 1,235.2% during the fourth quarter. Invesco Ltd. now owns 3,886,405 shares of the medical device company's stock worth $339,322,000 after purchasing an additional 3,595,339 shares during the period. Bank of Montreal Can raised its position in Globus Medical by 15,317.1% during the 4th 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. Sculptor Capital LP raised its position in Globus Medical by 31.9% during the 2nd quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company's stock valued at $162,936,000 after purchasing an additional 667,850 shares during the last quarter. Madison Avenue Partners LP lifted its holdings in Globus Medical by 3.0% in the 4th quarter. Madison Avenue Partners LP now owns 2,624,751 shares of the medical device company's stock worth $229,167,000 after buying an additional 76,588 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in Globus Medical by 1,303.9% in the 3rd quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company's stock worth $117,700,000 after buying an additional 1,908,795 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GMED shares. Wells Fargo & Company decreased their target price on Globus Medical from $104.00 to $103.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Royal Bank Of Canada lifted their price target on shares of Globus Medical from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Needham & Company LLC upped their price objective on shares of Globus Medical from $114.00 to $117.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Globus Medical in a research report on Wednesday, April 15th. Finally, Piper Sandler cut their target price on shares of Globus Medical from $115.00 to $100.00 and set an "overweight" rating on the stock in a research note on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.00.

Globus Medical Stock Down 0.1%

GMED opened at $80.01 on Monday. The stock has a market cap of $10.86 billion, a PE ratio of 18.61, a PEG ratio of 1.65 and a beta of 0.95. The business has a 50 day moving average of $82.08 and a 200-day moving average of $87.12. Globus Medical, Inc. has a 52 week low of $51.79 and a 52 week high of $101.40.

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

Insider Buying and Selling at Globus Medical

In other news, Director David D. Davidar sold 25,000 shares of the company's stock in a transaction dated 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 sale, the director directly owned 510,175 shares of the company's stock, valued at $41,201,733. This represents a 4.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 18.38% of the stock is owned by corporate insiders.

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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