VIRGINIA RETIREMENT SYSTEMS ET Al Sells 17,300 Shares of Globus Medical, Inc. $GMED

Key Points

• Virginia Retirement Systems cut its stake in Globus Medical by 58% in the fourth quarter, selling 17,300 shares and leaving it with 12,510 shares worth about $1.09 million.
• Globus Medical reported better-than-expected quarterly results, with EPS of $1.12 versus estimates of $0.92 and revenue of $759.85 million, up 27% year over year.
• Analysts remain generally positive on GMED, with an average Moderate Buy rating and an average price target of $106.36, though the stock was trading at $76.52 and down 0.9% on Friday.

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its holdings in Globus Medical, Inc. (NYSE:GMED - Free Report) by 58.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,510 shares of the medical device company's stock after selling 17,300 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Globus Medical were worth $1,092,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GMED. AQR Capital Management LLC boosted its stake in Globus Medical by 45.9% in the 1st quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company's stock worth $1,622,000 after purchasing an additional 7,086 shares during the period. Integrated Wealth Concepts LLC boosted its stake in Globus Medical by 33.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company's stock worth $320,000 after purchasing an additional 1,085 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Globus Medical by 38.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company's stock worth $2,228,000 after purchasing an additional 8,540 shares during the period. Jones Financial Companies Lllp boosted its stake in Globus Medical by 237.3% in the 1st quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company's stock worth $62,000 after purchasing an additional 598 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Globus Medical by 8.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,527 shares of the medical device company's stock worth $25,439,000 after purchasing an additional 28,027 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on GMED shares. Truist Financial set a $115.00 price target on Globus Medical in a research note on Wednesday, February 25th. Royal Bank Of Canada upped their price target on Globus Medical from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Wells Fargo & Company dropped their price target on Globus Medical from $104.00 to $103.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Needham & Company LLC increased their target price on Globus Medical from $114.00 to $117.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Finally, Zacks Research upgraded Globus Medical from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $106.36.

Insider Transactions at Globus Medical

In related news, EVP Kelly Huller sold 20,000 shares of the firm's stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total value of $1,890,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 18.38% of the stock is currently owned by corporate insiders.

Globus Medical Stock Down 0.9%

Shares of GMED opened at $76.52 on Friday. The company has a market cap of $10.39 billion, a PE ratio of 17.79, a P/E/G ratio of 1.58 and a beta of 1.00. The business has a fifty day moving average of $87.78 and a 200 day moving average of $87.08. 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.20. The company had revenue of $759.85 million during the quarter, compared to the consensus estimate of $740.35 million. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.Globus Medical's revenue was up 27.0% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. As a group, research analysts anticipate that Globus Medical, Inc. will post 4.74 earnings per share for the current fiscal year.

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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