Corient Private Wealth LP Raises Stock Position in Globus Medical, Inc. $GMED

Corient Private Wealth LP lifted its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 17.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 216,853 shares of the medical device company’s stock after purchasing an additional 32,343 shares during the quarter. Corient Private Wealth LP’s holdings in Globus Medical were worth $17,134,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Globus Medical during the 2nd quarter worth approximately $1,858,000. California State Teachers Retirement System grew its stake in shares of Globus Medical by 7,827.7% in the second quarter. California State Teachers Retirement System now owns 10,326,607 shares of the medical device company’s stock worth $815,905,000 after acquiring an additional 10,196,347 shares in the last quarter. VELA Investment Management LLC increased its position in shares of Globus Medical by 5.5% during the second quarter. VELA Investment Management LLC now owns 28,534 shares of the medical device company’s stock worth $2,254,000 after acquiring an additional 1,497 shares during the period. Washington Trust Advisors Inc. increased its position in shares of Globus Medical by 116.8% during the second quarter. Washington Trust Advisors Inc. now owns 45,006 shares of the medical device company’s stock worth $3,556,000 after acquiring an additional 24,250 shares during the period. Finally, Varenne Capital Partners raised its stake in shares of Globus Medical by 0.7% in the second quarter. Varenne Capital Partners now owns 238,200 shares of the medical device company’s stock valued at $18,807,000 after acquiring an additional 1,585 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling

In related news, Director Stephen Zarrilli sold 25,000 shares of the 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 in the company, valued at $2,176,000. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 18.38% of the stock is currently owned by company insiders.

Globus Medical Price Performance

Shares of NYSE:GMED opened at $75.70 on Tuesday. The company’s fifty day moving average price is $80.31 and its 200 day moving average price is $83.64. Globus Medical, Inc. has a 12 month low of $54.15 and a 12 month high of $101.40. The firm has a market capitalization of $10.16 billion, a P/E ratio of 19.36, a P/E/G ratio of 1.19 and a beta of 0.95.

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

Analysts Set New Price Targets

Several research analysts recently commented on the company. UBS Group began coverage on Globus Medical in a research note on Tuesday, July 28th. They set a “neutral” rating and a $82.00 target price for the company. Royal Bank Of Canada reduced their price target on Globus Medical from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Wells Fargo & Company decreased their price objective 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. Piper Sandler lowered their price objective on Globus Medical from $115.00 to $100.00 and set an “overweight” rating for the company in a research report on Monday, June 15th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Globus Medical in a research note on Monday, July 13th. Three investment 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.77.

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.