Globus Medical (NYSE:GMED) EVP Sells $1,890,000.00 in Stock

Globus Medical, Inc. (NYSE:GMED) EVP Kelly Huller sold 20,000 shares of Globus Medical stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total value of $1,890,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Kelly Huller also recently made the following trade(s):

• On Thursday, February 12th, Kelly Huller sold 10,000 shares of Globus Medical stock. The shares were sold at an average price of $87.67, for a total transaction of $876,700.00.

Globus Medical Stock Down 1.4%

Shares of NYSE:GMED traded down $1.32 during trading on Friday, hitting $95.39. 1,205,994 shares of the company traded hands, compared to its average volume of 1,436,818. Globus Medical, Inc. has a one year low of $51.79 and a one year high of $101.40. The business’s fifty day moving average is $90.69 and its 200-day moving average is $76.38. The stock has a market capitalization of $12.77 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 1.37 and a beta of 1.06.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Tuesday, February 24th. The medical device company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.22. The business had revenue of $826.42 million during the quarter, compared to the consensus estimate of $803.29 million. Globus Medical had a return on equity of 12.57% and a net margin of 18.30%.The business’s revenue was up 25.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 earnings per share. On average, analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on GMED shares. Morgan Stanley increased their price target on shares of Globus Medical from $70.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Citigroup reiterated a “market perform” rating on shares of Globus Medical in a research report on Thursday, January 8th. Wells Fargo & Company boosted their price target on shares of Globus Medical from $98.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday. Barclays upped their price target on shares of Globus Medical from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, BTIG Research reissued a “neutral” rating on shares of Globus Medical in a research report on Tuesday, December 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.36.

Institutional Investors Weigh In On Globus Medical

Hedge funds and other institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. boosted its position in shares of Globus Medical by 98.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company’s stock valued at $29,000 after acquiring an additional 167 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Globus Medical by 2.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,316 shares of the medical device company’s stock worth $375,000 after purchasing an additional 170 shares in the last quarter. Parallel Advisors LLC lifted 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 valued at $32,000 after purchasing an additional 173 shares during the last quarter. GAMMA Investing LLC boosted its position in Globus Medical by 14.7% in the third quarter. GAMMA Investing LLC now owns 1,438 shares of the medical device company’s stock valued at $82,000 after buying an additional 184 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Globus Medical by 74.3% during the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after purchasing an additional 197 shares during the last quarter. Institutional investors and hedge funds 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.