New York State Teachers Retirement System Has $8.92 Million Holdings in Globus Medical, Inc. $GMED

New York State Teachers Retirement System grew its stake in Globus Medical, Inc. (NYSE:GMED) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,491 shares of the medical device company’s stock after acquiring an additional 6,540 shares during the period. New York State Teachers Retirement System owned 0.08% of Globus Medical worth $8,917,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Invesco Ltd. increased its holdings in shares of Globus Medical by 1,235.2% in the fourth quarter. Invesco Ltd. now owns 3,886,405 shares of the medical device company’s stock valued at $339,322,000 after purchasing an additional 3,595,339 shares in the last quarter. Bank of Montreal Can lifted its holdings in Globus Medical by 15,317.1% during the 4th quarter. Bank of Montreal Can now owns 3,373,260 shares of the medical device company’s stock worth $294,519,000 after buying an additional 3,351,380 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Globus Medical by 1,303.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company’s stock worth $117,700,000 after buying an additional 1,908,795 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in Globus Medical in the 4th quarter valued at $90,411,000. Finally, Norges Bank bought a new position in Globus Medical in the 4th quarter valued at $89,922,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of Globus Medical stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $80.76, for a total value of $2,019,000.00. Following the transaction, the director owned 510,175 shares of the company’s stock, valued at approximately $41,201,733. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 18.38% of the company’s stock.

Globus Medical Stock Down 1.0%

Shares of GMED traded down $0.81 during trading hours on Tuesday, reaching $79.69. The stock had a trading volume of 185,732 shares, compared to its average volume of 1,454,533. The company has a market cap of $10.82 billion, a P/E ratio of 18.53, a P/E/G ratio of 1.65 and a beta of 0.95. Globus Medical, Inc. has a 52 week low of $51.79 and a 52 week high of $101.40. The firm has a 50-day moving average of $81.80 and a 200 day moving average of $87.09.

Globus Medical (NYSE:GMED) last posted its earnings results on Thursday, May 7th. The medical device company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.20. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.The firm had revenue of $759.85 million for the quarter, compared to analyst estimates of $740.35 million. During the same period in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. As a group, equities analysts expect that Globus Medical, Inc. will post 4.74 earnings per share for the current year.

Wall Street Analyst Weigh In

GMED has been the subject of a number of recent research reports. Piper Sandler dropped their target price 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. Wells Fargo & Company decreased their price target on Globus Medical from $104.00 to $103.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Royal Bank Of Canada lifted their price objective on Globus Medical from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Needham & Company LLC upped their target price on shares of Globus Medical from $114.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Globus Medical has an average rating of “Moderate Buy” and a consensus price target of $105.00.

Globus Medical 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.