State of Wyoming Has $432,000 Holdings in Globus Medical, Inc. $GMED

State of Wyoming lessened its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 62.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 5,015 shares of the medical device company’s stock after selling 8,233 shares during the period. State of Wyoming’s holdings in Globus Medical were worth $432,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Advisory Services Network LLC bought a new position in shares of Globus Medical in the 3rd quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its position in Globus Medical by 74.3% during 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 during the period. SBI Securities Co. Ltd. boosted its position in Globus Medical by 98.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company’s stock worth $29,000 after purchasing an additional 167 shares during the period. Parallel Advisors LLC grew its holdings in Globus Medical by 45.1% during 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. Finally, Headlands Technologies LLC grew its holdings in Globus Medical by 485.4% during the second quarter. Headlands Technologies LLC now owns 761 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 631 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analysts Set New Price Targets

GMED has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their price target 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. Zacks Research downgraded shares of Globus Medical from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Truist Financial lowered their target price on shares of Globus Medical from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Globus Medical in a report on Monday, July 13th. Finally, BMO Capital Markets began coverage on shares of Globus Medical in a research report on Wednesday, July 8th. They set an “outperform” rating and a $94.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.75.

Globus Medical Stock Up 1.4%

Shares of NYSE GMED opened at $76.46 on Friday. Globus Medical, Inc. has a 12 month low of $51.79 and a 12 month high of $101.40. The company has a market cap of $10.38 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.58 and a beta of 0.95. The business’s 50 day moving average is $79.79 and its two-hundred day moving average is $86.06.

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, beating the consensus estimate of $0.92 by $0.20. The company had revenue of $759.85 million during the quarter, compared to analysts’ expectations of $740.35 million. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.Globus Medical’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 earnings per share. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. Sell-side analysts expect that Globus Medical, Inc. will post 4.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of the stock in a transaction 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 completion of the sale, the director directly owned 510,175 shares of the company’s stock, valued at $41,201,733. This represents a 4.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 18.38% of the stock is currently owned by insiders.

Globus Medical Company 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.