VIRGINIA RETIREMENT SYSTEMS ET Al Takes $1.86 Million Position in Globus Medical, Inc. $GMED

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Globus Medical, Inc. (NYSE:GMED) during the second quarter, HoldingsChannel reports. The fund acquired 23,510 shares of the medical device company’s stock, valued at approximately $1,858,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC grew its position in Globus Medical by 2,178.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 319 shares of the medical device company’s stock worth $25,000 after purchasing an additional 305 shares during the period. Continuum Advisory LLC bought a new position in shares of Globus Medical during the 2nd quarter valued at $25,000. Advisory Services Network LLC purchased a new position in shares of Globus Medical in the 3rd quarter worth $26,000. EverSource Wealth Advisors LLC boosted its stake in shares of Globus Medical by 74.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after buying an additional 197 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Globus Medical by 83.4% in the fourth quarter. Larson Financial Group LLC now owns 532 shares of the medical device company’s stock worth $46,000 after acquiring an additional 242 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 analysts recently commented on GMED shares. Zacks Research upgraded Globus Medical from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. UBS Group began coverage on Globus Medical in a research report on Tuesday, July 28th. They issued a “neutral” rating and a $82.00 target price on the stock. Royal Bank Of Canada cut their price target on Globus Medical from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Truist Financial reduced their price target on shares of Globus Medical from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Finally, BMO Capital Markets assumed coverage on shares of Globus Medical in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $94.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.77.

Insider Buying and Selling at Globus Medical

In related news, Director Stephen Zarrilli sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the transaction, the director directly owned 25,000 shares in the company, valued at approximately $2,176,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 18.38% of the stock is currently owned by insiders.

Globus Medical Price Performance

NYSE:GMED opened at $74.21 on Friday. The firm has a market capitalization of $9.96 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 1.18 and a beta of 0.95. Globus Medical, Inc. has a one year low of $54.15 and a one year high of $101.40. The business has a fifty day moving average price of $80.40 and a 200-day moving average price of $83.82.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, August 6th. The medical device company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.24. Globus Medical had a return on equity of 14.57% and a net margin of 17.02%.The company had revenue of $789.61 million for the quarter, compared to the consensus estimate of $782.88 million. During the same period in the previous year, the business earned $0.86 earnings per share. Globus Medical’s quarterly revenue was up 5.9% compared to the same quarter last year. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. On average, equities research analysts expect that Globus Medical, Inc. will post 4.99 earnings per share for the current fiscal year.

About Globus Medical

Globus Medical, Inc (NYSE: GMED) is a medical device company that develops, manufactures and markets musculoskeletal solutions for surgeons, hospitals and patients. Its primary focus is spinal surgery, supported by a portfolio of implants, instruments and enabling technologies designed to assist with procedures involving the cervical, thoracic and lumbar spine.

The company’s products include spinal fusion systems, interbody devices, deformity correction systems, biologics and surgical instruments.