Globus Medical (NYSE:GMED) Director Sells $202,200.00 in Stock

Globus Medical, Inc. (NYSE:GMED) Director Leslie Norwalk sold 2,000 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $101.10, for a total transaction of $202,200.00. Following the transaction, the director directly owned 10,419 shares of the company’s stock, valued at approximately $1,053,360.90. This trade represents a 16.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Globus Medical Price Performance

Shares of NYSE:GMED opened at $92.47 on Thursday. The stock’s 50-day moving average is $87.60 and its 200 day moving average is $68.64. The company has a market cap of $12.38 billion, a PE ratio of 29.83, a P/E/G ratio of 1.51 and a beta of 1.06. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $101.40.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Thursday, November 6th. The medical device company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.39. The firm had revenue of $769.05 million for the quarter, compared to analyst estimates of $734.58 million. Globus Medical had a return on equity of 11.52% and a net margin of 15.30%.The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period last year, the company earned $0.83 EPS. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. Analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Ratings Changes

GMED has been the subject of several research analyst reports. 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 report on Tuesday, November 18th. BTIG Research reissued a “neutral” rating on shares of Globus Medical in a research note on Tuesday, December 30th. Wall Street Zen upgraded shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Zacks Research downgraded Globus Medical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Wells Fargo & Company increased their target price on Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $97.78.

Institutional Investors Weigh In On Globus Medical

Several hedge funds have recently bought and sold shares of GMED. Burgundy Asset Management Ltd. grew its holdings in Globus Medical by 24.3% in the second quarter. Burgundy Asset Management Ltd. now owns 3,481,438 shares of the medical device company’s stock worth $205,474,000 after purchasing an additional 679,691 shares during the period. William Blair Investment Management LLC boosted its position in shares of Globus Medical by 17.2% in the 3rd quarter. William Blair Investment Management LLC now owns 2,819,165 shares of the medical device company’s stock worth $161,454,000 after purchasing an additional 414,134 shares in the last quarter. Sculptor Capital LP grew its stake in shares of Globus Medical by 31.9% in the 2nd quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company’s stock worth $162,936,000 after buying an additional 667,850 shares during the last quarter. Geneva Capital Management LLC increased its position in Globus Medical by 13.6% during the 2nd quarter. Geneva Capital Management LLC now owns 2,082,788 shares of the medical device company’s stock valued at $122,926,000 after buying an additional 249,141 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in Globus Medical by 1,303.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company’s stock valued at $117,700,000 after buying an additional 1,908,795 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

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.