Globus Medical, Inc. $GMED Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Boosts Holdings

VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Globus Medical, Inc. (NYSE:GMED) by 51.0% in the third quarter, Holdings Channel.com reports. The firm owned 35,510 shares of the medical device company’s stock after purchasing an additional 12,000 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Globus Medical were worth $2,660,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Elevation Wealth Partners LLC increased its stake in shares of Globus Medical by 2,178.6% in the second quarter. Elevation Wealth Partners LLC now owns 319 shares of the medical device company’s stock worth $25,000 after acquiring an additional 305 shares during the last quarter. Continuum Advisory LLC purchased a new position in Globus Medical in the second quarter valued at about $25,000. Root Financial Partners LLC acquired a new position in Globus Medical in the 3rd quarter worth about $29,000. Summit Securities Group LLC acquired a new position in Globus Medical in the 1st quarter worth about $48,000. Finally, EverSource Wealth Advisors LLC increased its position in Globus Medical by 111.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,199 shares of the medical device company’s stock worth $103,000 after purchasing an additional 632 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, Director Stephen T. Zarrilli sold 25,000 shares of Globus Medical stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the sale, the director owned 25,000 shares of the company’s stock, valued at approximately $2,176,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Tobin sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $74.58, for a total transaction of $2,237,400.00. Following the completion of the sale, the director owned 15,000 shares in the company, valued at $1,118,700. This represents a 66.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 18.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on GMED. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Globus Medical in a research note on Friday, October 9th. UBS Group began coverage on shares of Globus Medical in a report on Tuesday, July 28th. They issued a “neutral” rating and a $82.00 price objective for the company. Stifel Nicolaus lowered their target price on shares of Globus Medical from $95.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, July 8th. BTIG Research restated a “neutral” rating on shares of Globus Medical in a report on Friday, September 18th. Finally, Wells Fargo & Company cut their target price on Globus Medical from $103.00 to $99.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Three 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. Based on data from MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and an average target price of $99.46.

Globus Medical Price Performance

Shares of GMED stock opened at $79.53 on Tuesday. The stock’s fifty day simple moving average is $77.49 and its 200 day simple moving average is $83.45. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of 20.34, a P/E/G ratio of 1.31 and a beta of 0.96. Globus Medical, Inc. has a one year low of $59.51 and a one year high of $101.40.

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

About Globus Medical

Globus Medical, Inc develops and commercializes musculoskeletal solutions for surgeons, hospitals and patients. The company focuses primarily on spinal, orthopedic trauma and other orthopedic procedures, offering implants, instruments and related technologies designed to support surgical treatment and improve clinical outcomes.

Its product portfolio includes spinal implants and enabling technologies, including the ExcelsiusGPS robotic navigation platform and Excelsius3D imaging system.