Globus Medical (NYSE:GMED) SVP Sells $675,000.00 in Stock

Globus Medical, Inc. (NYSE:GMED) SVP Kelly Huller sold 7,500 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $90.00, for a total transaction of $675,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Globus Medical Stock Performance

NYSE:GMED traded down $0.04 during trading hours on Friday, reaching $91.04. The company’s stock had a trading volume of 570,674 shares, compared to its average volume of 1,495,382. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of 35.02, a PEG ratio of 1.68 and a beta of 1.15. The firm has a 50-day simple moving average of $67.43 and a 200-day simple moving average of $61.51. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $94.93.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Thursday, November 6th. The medical device company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.39. The business had revenue of $769.05 million during the quarter, compared to analyst estimates of $734.58 million. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. The company’s revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 earnings per share. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. Equities analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Globus Medical

Several institutional investors and hedge funds have recently modified their holdings of GMED. AE Wealth Management LLC purchased a new position in shares of Globus Medical during the first quarter valued at about $212,000. Cetera Investment Advisers grew its holdings in shares of Globus Medical by 105.3% during the 1st quarter. Cetera Investment Advisers now owns 16,963 shares of the medical device company’s stock worth $1,242,000 after acquiring an additional 8,700 shares during the period. Assetmark Inc. raised its position in shares of Globus Medical by 1,240.8% in the 1st quarter. Assetmark Inc. now owns 12,000 shares of the medical device company’s stock worth $878,000 after acquiring an additional 11,105 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Globus Medical in the 1st quarter worth approximately $234,000. Finally, HB Wealth Management LLC lifted its stake in shares of Globus Medical by 4.7% in the 1st quarter. HB Wealth Management LLC now owns 3,804 shares of the medical device company’s stock valued at $278,000 after purchasing an additional 170 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Royal Bank Of Canada lifted their price target on Globus Medical from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price (up from $93.00) on shares of Globus Medical in a research note on Tuesday, November 18th. Bank of America upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and upped their price target for the company from $65.00 to $91.00 in a report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Globus Medical in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Globus Medical from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.91.

About Globus Medical

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.