Fifth Third Bancorp Has $5.75 Million Holdings in Globus Medical, Inc. $GMED

Fifth Third Bancorp raised its position in shares of Globus Medical, Inc. (NYSE:GMED) by 5,281.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,732 shares of the medical device company’s stock after purchasing an additional 65,492 shares during the period. Fifth Third Bancorp’s holdings in Globus Medical were worth $5,750,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Advisory Services Network LLC bought a new position in Globus Medical during the third quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its stake in Globus Medical by 74.3% in the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 197 shares during the last quarter. SBI Securities Co. Ltd. grew its position in Globus Medical by 98.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company’s stock worth $29,000 after acquiring an additional 167 shares in the last quarter. Parallel Advisors LLC grew its position in Globus Medical by 45.1% in the third quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock worth $32,000 after acquiring an additional 173 shares in the last quarter. Finally, Headlands Technologies LLC grew its position in Globus Medical by 485.4% in the second quarter. Headlands Technologies LLC now owns 761 shares of the medical device company’s stock worth $45,000 after acquiring an additional 631 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Globus Medical

In other news, Director David D. Davidar sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $80.76, for a total value of $2,019,000.00. Following the sale, the director directly owned 510,175 shares of the company’s stock, valued at approximately $41,201,733. This trade represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 18.38% of the stock is owned by company insiders.

Globus Medical Trading Up 2.5%

Shares of Globus Medical stock opened at $80.52 on Friday. The firm has a fifty day simple moving average of $79.85 and a 200-day simple moving average of $86.54. The stock has a market capitalization of $10.93 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 1.62 and a beta of 0.95. Globus Medical, Inc. has a 1-year low of $51.79 and a 1-year high of $101.40.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus cut their price target on shares of Globus Medical from $95.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, July 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Globus Medical in a report on Monday. Needham & Company LLC upped their price objective on shares of Globus Medical from $114.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Royal Bank Of Canada lowered their target price on shares of Globus Medical from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Piper Sandler cut their target price on Globus Medical from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.75.

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.