Globus Medical (NYSE:GMED) Announces Earnings Results

Globus Medical (NYSE:GMED) posted its earnings results on Tuesday. The medical device company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.23, Zacks reports. Globus Medical had a net margin of 15.30% and a return on equity of 11.52%. The firm had revenue of $826.42 million during the quarter, compared to the consensus estimate of $803.29 million.

Globus Medical Trading Down 1.5%

Shares of GMED traded down $1.39 during mid-day trading on Tuesday, reaching $92.01. The company’s stock had a trading volume of 2,020,062 shares, compared to its average volume of 1,430,180. Globus Medical has a 52 week low of $51.79 and a 52 week high of $101.40. The stock has a market cap of $12.31 billion, a PE ratio of 29.68, a P/E/G ratio of 1.39 and a beta of 1.06. The company’s fifty day moving average price is $89.98 and its two-hundred day moving average price is $75.61.

Insider Activity at Globus Medical

In other news, Director Leslie V. Norwalk sold 2,000 shares of the 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 completion of the sale, the director directly owned 10,419 shares in the company, valued at approximately $1,053,360.90. This represents a 16.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelly Huller sold 10,000 shares of Globus Medical stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $87.67, for a total transaction of $876,700.00. The disclosure for this sale is available in the SEC filing. Insiders sold 34,136 shares of company stock worth $3,111,033 in the last ninety days. 18.51% of the stock is owned by company insiders.

Institutional Trading of Globus Medical

Several institutional investors and hedge funds have recently bought and sold shares of GMED. Parallel Advisors LLC lifted 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 purchasing an additional 173 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Globus Medical by 74.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock valued at $27,000 after buying an additional 197 shares in the last quarter. Mindset Wealth Management LLC increased its stake in shares of Globus Medical by 1.9% in the 4th quarter. Mindset Wealth Management LLC now owns 10,715 shares of the medical device company’s stock worth $936,000 after acquiring an additional 200 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Globus Medical by 33.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 999 shares of the medical device company’s stock valued at $57,000 after acquiring an additional 250 shares during the period. Finally, Wealthspire Advisors LLC grew its holdings in Globus Medical by 11.4% in the fourth quarter. Wealthspire Advisors LLC now owns 2,645 shares of the medical device company’s stock worth $231,000 after purchasing an additional 271 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Canaccord Genuity Group raised their target price on Globus Medical from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Needham & Company LLC raised shares of Globus Medical from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a research note on Friday, January 30th. Bank of America upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and increased their target price for the stock from $65.00 to $91.00 in a research note on Friday, November 7th. Citigroup restated a “market perform” rating on shares of Globus Medical in a research report on Thursday, January 8th. Finally, Zacks Research lowered Globus Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $100.18.

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.