Vestcor Inc Lowers Position in Globus Medical, Inc. $GMED

Vestcor Inc decreased its position in shares of Globus Medical, Inc. (NYSE:GMED) by 88.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 941 shares of the medical device company’s stock after selling 7,196 shares during the period. Vestcor Inc’s holdings in Globus Medical were worth $82,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. William Blair Investment Management LLC lifted its stake in Globus Medical by 17.2% during the 3rd quarter. William Blair Investment Management LLC now owns 2,819,165 shares of the medical device company’s stock worth $161,454,000 after acquiring an additional 414,134 shares in the last quarter. Sculptor Capital LP lifted its stake 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 worth $162,936,000 after acquiring an additional 667,850 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Globus Medical by 1,303.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company’s stock worth $117,700,000 after acquiring an additional 1,908,795 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Globus Medical by 72.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,011,104 shares of the medical device company’s stock worth $115,166,000 after acquiring an additional 842,547 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Globus Medical by 8.3% during the 3rd quarter. Marshall Wace LLP now owns 1,711,909 shares of the medical device company’s stock worth $98,041,000 after acquiring an additional 131,433 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Performance

Shares of NYSE GMED opened at $81.02 on Thursday. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week high of $101.40. The firm has a market capitalization of $11.00 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.70 and a beta of 0.95. The stock’s 50-day simple moving average is $86.03 and its 200-day simple moving average is $88.19.

Globus Medical (NYSE:GMED) last issued its 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. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.The business had revenue of $759.85 million for the quarter, compared to analyst estimates of $740.35 million. During the same quarter last year, the company earned $0.68 EPS. The business’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, sell-side analysts forecast that Globus Medical, Inc. will post 4.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Globus Medical

In other news, Director David D. Davidar sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $80.76, for a total transaction of $2,019,000.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 18.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen lowered Globus Medical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Zacks Research raised Globus Medical from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Wells Fargo & Company decreased their target price on Globus Medical from $104.00 to $103.00 and set an “overweight” rating on the stock 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 stock a “buy” rating in a research note on Friday, May 8th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Globus Medical in a research note on Wednesday, April 15th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Globus Medical has an average rating of “Moderate Buy” and a consensus target price of $106.36.

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.