Globus Medical, Inc. (NYSE:GMED – Get Free Report) Director James Tobin sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $74.58, for a total transaction of $2,237,400.00. Following the completion of the transaction, the director owned 15,000 shares in the company, valued at $1,118,700. This represents a 66.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Globus Medical Trading Up 0.8%
Shares of NYSE:GMED opened at $75.30 on Thursday. The company has a market capitalization of $10.11 billion, a PE ratio of 19.26, a P/E/G ratio of 1.20 and a beta of 0.95. Globus Medical, Inc. has a twelve month low of $54.15 and a twelve month high of $101.40. The firm has a 50 day simple moving average of $80.20 and a 200-day simple moving average of $83.33.
Globus Medical (NYSE:GMED – Get Free Report) last posted its earnings results on Thursday, August 6th. The medical device company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.24. Globus Medical had a net margin of 17.02% and a return on equity of 14.57%. The firm had revenue of $789.61 million for the quarter, compared to the consensus estimate of $782.88 million. During the same period last year, the firm posted $0.86 EPS. The company’s revenue was up 5.9% on a year-over-year basis. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. As a group, equities research analysts predict that Globus Medical, Inc. will post 4.99 EPS for the current fiscal year.
Hedge Funds Weigh In On Globus Medical
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on GMED. Truist Financial cut their target price on Globus Medical from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. BMO Capital Markets initiated coverage on Globus Medical in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $94.00 target price for the company. Wells Fargo & Company dropped their price target on Globus Medical from $103.00 to $99.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Stifel Nicolaus cut their price target on Globus Medical from $95.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, July 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Globus Medical in a research note on Monday, July 13th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and an average target price of $101.77.
Check Out Our Latest Research Report on Globus Medical
Globus Medical Company Profile
Globus Medical, Inc (NYSE: GMED) is a medical device company that develops, manufactures and markets musculoskeletal solutions for surgeons, hospitals and patients. Its primary focus is spinal surgery, supported by a portfolio of implants, instruments and enabling technologies designed to assist with procedures involving the cervical, thoracic and lumbar spine.
The company’s products include spinal fusion systems, interbody devices, deformity correction systems, biologics and surgical instruments.
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