Globus Medical (NYSE:GMED) Director James Tobin Sells 41,666 Shares of Stock

Globus Medical, Inc. (NYSE:GMED) Director James Tobin sold 41,666 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $75.16, for a total value of $3,131,616.56. Following the transaction, the director owned 15,000 shares of the company’s stock, valued at $1,127,400. This trade represents a 73.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Globus Medical Price Performance

NYSE GMED opened at $72.30 on Friday. The company has a market cap of $9.71 billion, a P/E ratio of 15.17, a P/E/G ratio of 1.17 and a beta of 0.98. The stock has a 50-day moving average of $76.68 and a two-hundred day moving average of $82.81. Globus Medical, Inc. has a 1-year low of $70.39 and a 1-year high of $101.40.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Thursday, November 5th. The medical device company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. Globus Medical had a net margin of 17.76% and a return on equity of 14.43%. The business had revenue of $763.72 million for the quarter, compared to analysts’ expectations of $792.39 million. During the same quarter in the prior year, the company earned $1.18 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. On average, analysts anticipate that Globus Medical, Inc. will post 4.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Globus Medical

A number of institutional investors and hedge funds have recently made changes to their positions in GMED. Elevation Wealth Partners LLC raised its holdings in Globus Medical by 2,178.6% in the second quarter. Elevation Wealth Partners LLC now owns 319 shares of the medical device company’s stock valued at $25,000 after acquiring an additional 305 shares in the last quarter. Continuum Advisory LLC purchased a new position in Globus Medical in the second quarter worth approximately $25,000. Root Financial Partners LLC acquired a new position in Globus Medical during the 3rd quarter worth approximately $29,000. Heritage Family Offices LLP acquired a new position in Globus Medical during the 3rd quarter worth approximately $31,000. Finally, Jacobi Capital Management LLC purchased a new stake in shares of Globus Medical in the 3rd quarter valued at approximately $40,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GMED shares. Wells Fargo & Company raised their price target on shares of Globus Medical from $99.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, November 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Globus Medical in a research report on Friday, October 9th. Canaccord Genuity Group cut their price objective on Globus Medical from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 6th. Wall Street Zen cut Globus Medical from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Finally, BTIG Research reiterated a “neutral” rating on shares of Globus Medical in a report on Friday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $96.08.

Globus Medical Company Profile

Globus Medical is a medical device company focused on musculoskeletal care. Its products include implants and instruments used in spine surgery, as well as solutions for orthopedic trauma and other orthopedic procedures. The company also develops surgical technologies, including robotic navigation and imaging systems designed to support planning and guidance during procedures. Its portfolio expanded significantly in 2023 when Globus Medical completed its combination with NuVasive, a provider of spine care products and technologies.