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

Public Employees Retirement System of Ohio boosted its position in Globus Medical, Inc. (NYSE:GMED) by 192.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 100,563 shares of the medical device company’s stock after buying an additional 66,173 shares during the period. Public Employees Retirement System of Ohio’s holdings in Globus Medical were worth $8,665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in Globus Medical by 1,235.2% during the 4th quarter. Invesco Ltd. now owns 3,886,405 shares of the medical device company’s stock worth $339,322,000 after buying an additional 3,595,339 shares during the last quarter. Bank of Montreal Can lifted its stake in Globus Medical by 15,317.1% during the fourth quarter. Bank of Montreal Can now owns 3,373,260 shares of the medical device company’s stock worth $294,519,000 after purchasing an additional 3,351,380 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Globus Medical by 1,303.9% during the third quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company’s stock worth $117,700,000 after purchasing an additional 1,908,795 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Globus Medical in the fourth quarter worth $90,411,000. Finally, Norges Bank acquired a new position in Globus Medical in the fourth quarter worth $89,922,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Price Performance

GMED opened at $78.27 on Tuesday. The stock’s 50 day moving average price is $79.77 and its 200 day moving average price is $85.92. The stock has a market cap of $10.62 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.58 and a beta of 0.95. Globus Medical, Inc. has a 12 month low of $51.79 and a 12 month high of $101.40.

Globus Medical (NYSE:GMED) last announced 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. 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 analyst estimates of $740.35 million. During the same quarter in the previous year, the firm posted $0.68 EPS. The firm’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. Equities analysts anticipate that Globus Medical, Inc. will post 4.74 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Piper Sandler dropped their target price on shares of Globus Medical from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Monday, June 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Globus Medical in a report on Monday, July 13th. Stifel Nicolaus lowered their price objective on shares of Globus Medical from $95.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, July 8th. Wall Street Zen lowered shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, BMO Capital Markets initiated coverage on shares of Globus Medical in a report on Wednesday, July 8th. They issued an “outperform” rating and a $94.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.75.

Insider Transactions at Globus Medical

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $80.76, for a total transaction of $2,019,000.00. Following the transaction, the director owned 510,175 shares of the company’s stock, valued at approximately $41,201,733. This trade represents a 4.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.