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

Washington Trust Advisors Inc. boosted its holdings in Globus Medical, Inc. (NYSE:GMED) by 116.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,006 shares of the medical device company’s stock after acquiring an additional 24,250 shares during the period. Washington Trust Advisors Inc.’s holdings in Globus Medical were worth $3,556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in Globus Medical by 45.9% during the first quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company’s stock worth $1,622,000 after acquiring an additional 7,086 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Globus Medical by 33.0% in the first quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company’s stock valued at $320,000 after purchasing an additional 1,085 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Globus Medical by 38.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company’s stock valued at $2,228,000 after purchasing an additional 8,540 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Globus Medical by 237.3% during the 1st quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock worth $62,000 after purchasing an additional 598 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Globus Medical by 8.8% during the 1st 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 worth $25,439,000 after purchasing an additional 28,027 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Stephen Zarrilli sold 25,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director directly owned 25,000 shares in the company, valued at approximately $2,176,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 18.38% of the company’s stock.

Globus Medical Price Performance

NYSE:GMED opened at $78.27 on Monday. The firm has a 50 day simple moving average of $80.87 and a 200-day simple moving average of $84.30. The firm has a market cap 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 1-year low of $54.15 and a 1-year high of $101.40.

Globus Medical (NYSE:GMED) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $782.88 million. During the same period in the previous year, the firm posted $0.86 EPS. Globus Medical’s revenue was up 5.9% on a year-over-year basis. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. As a group, sell-side analysts expect that Globus Medical, Inc. will post 4.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GMED shares. Royal Bank Of Canada reduced their target price on Globus Medical from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Globus Medical in a research report on Monday, July 13th. BMO Capital Markets assumed coverage on Globus Medical in a report on Wednesday, July 8th. They issued an “outperform” rating and a $94.00 price target for the company. Wells Fargo & Company reduced their price objective on Globus Medical from $103.00 to $99.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Finally, Truist Financial decreased their price objective on Globus Medical from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.77.

Globus Medical Company 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.