Globus Medical (NYSE:GMED) Director David Davidar Sells 25,000 Shares

Globus Medical, Inc. (NYSE:GMED) Director David Davidar sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $86.00, for a total value of $2,150,000.00. Following the sale, the director owned 516,275 shares of the company’s stock, valued at approximately $44,399,650. This represents a 4.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Globus Medical Trading Down 1.0%

Globus Medical stock opened at $83.89 on Friday. The company has a market capitalization of $11.33 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 1.68 and a beta of 1.15. The stock’s 50 day moving average is $61.83 and its 200-day moving average is $60.37. Globus Medical, Inc. has a 12 month low of $51.79 and a 12 month high of $94.93.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Thursday, November 6th. The medical device company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.39. The business had revenue of $769.05 million during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $0.83 EPS. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. As a group, equities research analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GMED. Xponance Inc. boosted its holdings in shares of Globus Medical by 2.0% in the 1st quarter. Xponance Inc. now owns 13,151 shares of the medical device company’s stock valued at $963,000 after purchasing an additional 259 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Globus Medical by 94.5% during the 1st quarter. New York State Common Retirement Fund now owns 152,388 shares of the medical device company’s stock worth $11,155,000 after buying an additional 74,051 shares during the last quarter. Stephens Inc. AR lifted its position in shares of Globus Medical by 53.1% during the 1st quarter. Stephens Inc. AR now owns 5,406 shares of the medical device company’s stock worth $396,000 after buying an additional 1,875 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Globus Medical by 25.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 605,770 shares of the medical device company’s stock valued at $44,342,000 after buying an additional 122,417 shares in the last quarter. Finally, Whittier Trust Co. grew its position in Globus Medical by 46.5% in the first quarter. Whittier Trust Co. now owns 580 shares of the medical device company’s stock valued at $42,000 after acquiring an additional 184 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GMED has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Globus Medical in a research report on Wednesday, October 8th. Bank of America raised shares of Globus Medical from a “neutral” rating to a “buy” rating and raised their target price for the stock from $65.00 to $91.00 in a report on Friday, November 7th. Stifel Nicolaus assumed coverage on Globus Medical in a research note on Tuesday, October 28th. They issued a “hold” rating and a $64.00 price target for the company. Canaccord Genuity Group reduced their price target on Globus Medical from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 22nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.82.

Globus Medical Company Profile

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.