Fort Washington Investment Advisors Inc. OH Sells 126,822 Shares of Globus Medical, Inc. $GMED

Fort Washington Investment Advisors Inc. OH reduced its stake in Globus Medical, Inc. (NYSE:GMED) by 28.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 319,591 shares of the medical device company’s stock after selling 126,822 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.24% of Globus Medical worth $27,903,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GMED. Advisory Services Network LLC acquired a new position in Globus Medical in the third quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its holdings 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 buying an additional 197 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in shares of Globus Medical during the 2nd quarter worth about $28,000. First Horizon Corp acquired a new position in shares of Globus Medical during the 3rd quarter worth about $31,000. Finally, Parallel Advisors LLC increased its stake in shares of Globus Medical by 45.1% in the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock valued at $32,000 after acquiring an additional 173 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Stock Performance

Shares of GMED opened at $83.80 on Friday. The stock has a 50 day simple moving average of $89.48 and a 200 day simple moving average of $80.05. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $101.40. The firm has a market capitalization of $11.33 billion, a PE ratio of 21.27, a P/E/G ratio of 2.02 and a beta of 1.05.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, February 24th. The medical device company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.06 by $0.22. The firm had revenue of $826.42 million for the quarter, compared to the consensus estimate of $803.29 million. Globus Medical had a net margin of 18.30% and a return on equity of 12.57%. The business’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period last year, the company posted $0.84 EPS. Equities research analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GMED has been the topic of a number of analyst reports. Canaccord Genuity Group increased their price target on shares of Globus Medical from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $115.00 target price (up from $90.00) on shares of Globus Medical in a research note on Thursday, January 8th. Wall Street Zen upgraded shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Royal Bank Of Canada lifted their price target on shares of Globus Medical from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Finally, Truist Financial set a $115.00 price target on shares of Globus Medical in a report on Wednesday, February 25th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.36.

Insider Activity at Globus Medical

In other Globus Medical news, Director Leslie V. Norwalk sold 2,000 shares of Globus Medical stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $101.10, for a total value of $202,200.00. Following the sale, the director owned 10,419 shares of the company’s stock, valued at $1,053,360.90. This trade represents a 16.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kelly Huller sold 20,000 shares of Globus Medical stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $94.50, for a total value of $1,890,000.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 35,594 shares of company stock valued at $3,332,253. 18.51% of the stock is owned by corporate insiders.

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.