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

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

Globus Medical Trading Down 0.4%

Globus Medical stock opened at $72.02 on Friday. The company has a market capitalization of $9.67 billion, a PE ratio of 17.69, a P/E/G ratio of 1.12 and a beta of 0.98. Globus Medical, Inc. has a 12 month low of $70.39 and a 12 month high of $101.40. The stock has a 50-day moving average price of $76.56 and a two-hundred day moving average price of $82.71.

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

Institutional Trading of Globus Medical

A number of institutional investors have recently bought and sold shares of GMED. Janus Henderson Group PLC raised its position in shares of Globus Medical by 4.5% in the 1st quarter. Janus Henderson Group PLC now owns 7,623,095 shares of the medical device company’s stock worth $656,831,000 after acquiring an additional 328,217 shares in the last quarter. Boston Partners lifted its stake in shares of Globus Medical by 119.7% in the 3rd quarter. Boston Partners now owns 3,415,554 shares of the medical device company’s stock valued at $255,898,000 after purchasing an additional 1,860,564 shares during the period. Sculptor Capital LP lifted its stake in shares of Globus Medical by 1.9% in the 1st quarter. Sculptor Capital LP now owns 3,058,000 shares of the medical device company’s stock valued at $263,477,000 after purchasing an additional 58,000 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Globus Medical by 14.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,797,215 shares of the medical device company’s stock valued at $133,731,000 after purchasing an additional 225,534 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Globus Medical by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,769,897 shares of the medical device company’s stock valued at $152,474,000 after purchasing an additional 33,976 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

GMED has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Globus Medical in a report on Friday, October 9th. BTIG Research reaffirmed a “neutral” rating on shares of Globus Medical in a research note on Friday, November 6th. Royal Bank Of Canada cut their price target on shares of Globus Medical from $115.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, October 1st. Wall Street Zen cut shares of Globus Medical from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Globus Medical from $99.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.