Washington Trust Advisors Inc. Boosts Stock Position in Globus Medical, Inc. $GMED

Washington Trust Advisors Inc. lifted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 116.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,006 shares of the medical device company’s stock after purchasing an additional 24,250 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Globus Medical were worth $3,556,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC increased 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 valued at $1,622,000 after buying an additional 7,086 shares during the period. Integrated Wealth Concepts LLC raised its position in Globus Medical by 33.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company’s stock worth $320,000 after buying an additional 1,085 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of 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 acquiring an additional 8,540 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of 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 acquiring an additional 598 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Globus Medical by 8.8% in the first 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 valued at $25,439,000 after acquiring an additional 28,027 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Stock Down 0.0%

Shares of GMED opened at $78.27 on Monday. The company has a 50-day simple moving average of $80.87 and a 200-day simple moving average of $84.30. The company has a market capitalization of $10.51 billion, a PE ratio of 20.02, a P/E/G ratio of 1.26 and a beta of 0.95. Globus Medical, Inc. has a 52-week low of $54.15 and a 52-week high of $101.40.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Thursday, August 6th. The medical device company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.10 by $0.24. Globus Medical had a net margin of 17.02% and a return on equity of 14.57%. The firm had revenue of $789.61 million during the quarter, compared to analysts’ expectations of $782.88 million. During the same quarter last year, the business earned $0.86 earnings per share. The business’s revenue for the quarter 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, research analysts anticipate that Globus Medical, Inc. will post 4.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Globus Medical in a research note on Monday, July 13th. Truist Financial lowered their price objective on Globus Medical from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, July 16th. Zacks Research upgraded Globus Medical from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Wells Fargo & Company cut their target price on Globus Medical from $103.00 to $99.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Finally, Royal Bank Of Canada reduced their price target on Globus Medical from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.77.

Insider Activity

In related news, Director Stephen Zarrilli sold 25,000 shares of the company’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 value of $2,176,000.00. Following the sale, the director owned 25,000 shares in the company, valued at $2,176,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 18.38% of the company’s stock.

About Globus Medical

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.