Washington Trust Advisors Inc. Purchases 9,592 Shares of Globus Medical, Inc. $GMED

Washington Trust Advisors Inc. lifted its position in Globus Medical, Inc. (NYSE:GMED) by 21.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,598 shares of the medical device company’s stock after purchasing an additional 9,592 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Globus Medical were worth $4,089,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in shares of Globus Medical by 4.5% in the first quarter. Janus Henderson Group PLC now owns 7,623,095 shares of the medical device company’s stock worth $656,831,000 after buying an additional 328,217 shares in the last quarter. Sculptor Capital LP grew its holdings in Globus Medical by 1.9% during the 1st quarter. Sculptor Capital LP now owns 3,058,000 shares of the medical device company’s stock valued at $263,477,000 after buying an additional 58,000 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Globus Medical by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,769,897 shares of the medical device company’s stock valued at $152,474,000 after buying an additional 33,976 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Globus Medical by 2.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,132,278 shares of the medical device company’s stock worth $97,557,000 after acquiring an additional 30,412 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Globus Medical by 107.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 912,905 shares of the medical device company’s stock worth $78,656,000 after acquiring an additional 471,875 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Globus Medical Price Performance

Shares of NYSE:GMED traded down $0.18 during trading on Friday, hitting $81.47. The company had a trading volume of 768,420 shares, compared to its average volume of 1,483,170. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 1.32 and a beta of 0.96. The company has a fifty day simple moving average of $78.03 and a two-hundred day simple moving average of $81.19. Globus Medical, Inc. has a one year low of $59.51 and a one year high of $101.40.

Globus Medical (NYSE:GMED) last released its 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 firm had revenue of $789.61 million for the quarter, compared to the consensus estimate of $782.88 million. During the same quarter in the previous year, the company posted $0.86 EPS. The company’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, equities research analysts anticipate that Globus Medical, Inc. will post 4.99 earnings per share for the current year.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, Director Stephen 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 transaction, the director directly owned 25,000 shares of the company’s stock, valued at $2,176,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Tobin sold 30,000 shares of the business’s stock in a transaction 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 transaction, the director owned 15,000 shares in the company, valued at $1,118,700. This trade represents a 66.67% decrease in their position. The disclosure for this sale is available in the SEC filing. 18.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GMED shares. Wells Fargo & Company decreased their price objective on Globus Medical from $103.00 to $99.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. BMO Capital Markets started coverage on shares of Globus Medical in a report on Wednesday, July 8th. They issued an “outperform” rating and a $94.00 target price for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Globus Medical in a research report on Friday, October 9th. UBS Group started coverage on shares of Globus Medical in a research report on Tuesday, July 28th. They issued a “neutral” rating and a $82.00 price target on the stock. Finally, Stifel Nicolaus decreased their price target on shares of Globus Medical from $95.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, July 8th. Three investment 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.46.

Globus Medical Profile

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.