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 business’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $101.10, for a total transaction of $202,200.00. Following the completion of the sale, the director owned 10,419 shares in the company, valued at $1,053,360.90. This represents a 16.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Globus Medical Price Performance

Shares of Globus Medical stock traded down $2.72 during trading hours on Monday, reaching $91.75. The company’s stock had a trading volume of 1,990,840 shares, compared to its average volume of 2,293,094. The firm has a 50 day moving average price of $85.80 and a 200-day moving average price of $68.02. The stock has a market cap of $12.28 billion, a P/E ratio of 29.60, a P/E/G ratio of 1.58 and a beta of 1.06. Globus Medical, Inc. has a one year low of $51.79 and a one year high of $101.40.

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

Wall Street Analysts Forecast Growth

GMED has been the subject of a number of analyst reports. Zacks Research downgraded Globus Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Wall Street Zen upgraded shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Barclays lifted their price target on shares of Globus Medical from $106.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Globus Medical in a research report on Wednesday, October 8th. Finally, Bank of America raised shares of Globus Medical from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $91.00 in a research note on Friday, November 7th. Eight equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.78.

Institutional Investors Weigh In On Globus Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GMED. Advisory Services Network LLC bought a new position in Globus Medical in the 3rd quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Globus Medical by 74.3% in the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock valued at $27,000 after purchasing an additional 197 shares during the period. Advisors Asset Management Inc. bought a new position in Globus Medical in the second quarter worth approximately $28,000. First Horizon Corp bought a new position in Globus Medical in the third quarter worth approximately $31,000. Finally, Parallel Advisors LLC increased its holdings in Globus Medical by 45.1% during the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock worth $32,000 after purchasing an additional 173 shares during the period. 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.