New York State Teachers Retirement System Purchases 6,540 Shares of Globus Medical, Inc. $GMED

New York State Teachers Retirement System boosted its position in Globus Medical, Inc. (NYSE:GMED) by 6.7% during the first quarter, Holdings Channel reports. The institutional investor owned 103,491 shares of the medical device company’s stock after purchasing an additional 6,540 shares during the quarter. New York State Teachers Retirement System’s holdings in Globus Medical were worth $8,917,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. boosted its position in Globus Medical by 98.2% during the 4th 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 during the last quarter. Parallel Advisors LLC raised its holdings in shares of Globus Medical by 45.1% in the third quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock valued at $32,000 after purchasing an additional 173 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Globus Medical by 74.3% in the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after purchasing an additional 197 shares in the last quarter. Allworth Financial LP lifted its position in shares of Globus Medical by 1.6% in the fourth quarter. Allworth Financial LP now owns 12,545 shares of the medical device company’s stock worth $1,095,000 after purchasing an additional 199 shares in the last quarter. Finally, Mindset Wealth Management LLC boosted its holdings in Globus Medical by 1.9% during the fourth quarter. Mindset Wealth Management LLC now owns 10,715 shares of the medical device company’s stock worth $936,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Insider Activity at Globus Medical

In related news, Director David D. Davidar sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $80.76, for a total transaction of $2,019,000.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 18.38% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GMED. Wall Street Zen downgraded shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Piper Sandler reduced their price objective on shares of Globus Medical from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, June 15th. Royal Bank Of Canada increased their price objective on shares of Globus Medical from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Needham & Company LLC raised their price objective on Globus Medical from $114.00 to $117.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Globus Medical in a research report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $105.00.

Globus Medical Price Performance

GMED traded down $0.81 during trading on Tuesday, hitting $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 50 day moving average price of $81.80 and a 200-day moving average price of $87.09. The firm has a market cap of $10.82 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 1.65 and a beta of 0.95. Globus Medical, Inc. has a one year low of $51.79 and a one year high of $101.40.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data 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 analysts’ expectations of $740.35 million. During the same quarter last year, the business earned $0.68 EPS. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. As a group, sell-side analysts predict that Globus Medical, Inc. will post 4.74 EPS for the current fiscal year.

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.