Globus Medical (NYSE:GMED) Director Sells $170,000.00 in Stock

Globus Medical, Inc. (NYSE:GMED) Director Ann Rhoads sold 2,000 shares of Globus Medical stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $85.00, for a total transaction of $170,000.00. Following the completion of the sale, the director directly owned 15,384 shares in the company, valued at approximately $1,307,640. The trade was a 11.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Globus Medical Stock Down 0.2%

Shares of NYSE:GMED opened at $84.77 on Thursday. The company has a market cap of $11.45 billion, a P/E ratio of 32.60, a PEG ratio of 1.68 and a beta of 1.15. Globus Medical, Inc. has a 52 week low of $51.79 and a 52 week high of $94.93. The company has a 50-day moving average price of $61.35 and a 200 day moving average price of $60.21.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, November 6th. The medical device company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.39. The company had revenue of $769.05 million for the quarter, compared to analysts’ expectations of $734.58 million. Globus Medical had a return on equity of 10.65% and a net margin of 13.58%.The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. Analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current year.

Hedge Funds Weigh In On Globus Medical

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in shares of Globus Medical by 16.3% in the third quarter. Barclays PLC now owns 214,031 shares of the medical device company’s stock valued at $12,258,000 after purchasing an additional 30,013 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Globus Medical by 4.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,556 shares of the medical device company’s stock worth $490,000 after purchasing an additional 403 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Globus Medical by 72.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,011,104 shares of the medical device company’s stock valued at $115,166,000 after buying an additional 842,547 shares in the last quarter. Cresset Asset Management LLC grew its holdings in Globus Medical by 71.6% during the 3rd quarter. Cresset Asset Management LLC now owns 6,135 shares of the medical device company’s stock valued at $351,000 after buying an additional 2,560 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Globus Medical by 27.3% during the third quarter. Victory Capital Management Inc. now owns 592,891 shares of the medical device company’s stock worth $33,955,000 after buying an additional 127,146 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Stifel Nicolaus initiated coverage on Globus Medical in a report on Tuesday, October 28th. They issued a “hold” rating and a $64.00 target price for the company. Royal Bank Of Canada increased their price target on shares of Globus Medical from $88.00 to $92.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research note on Monday, July 21st. Wells Fargo & Company upped their target price on shares of Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Barclays lifted their price target on shares of Globus Medical from $106.00 to $114.00 and gave the company an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Globus Medical presently has an average rating of “Moderate Buy” and an average price target of $88.82.

About Globus Medical

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.