Key Points
- Kelly Huller, a Globus Medical SVP, sold 7,500 shares on November 25 at an average price of $90.00, a transaction worth about $675,000 disclosed in an SEC filing.
- Globus Medical reported strong Q3 results on November 6 with $1.18 EPS (vs. $0.79 consensus) and $769.05 million revenue, up 22.9% year-over-year, and set FY2025 guidance of $3.75–$3.85 EPS.
- Analyst sentiment is positive with a MarketBeat consensus of “Moderate Buy” and a mean price target of about $89.91, while multiple firms recently raised ratings and targets (e.g., Bank of America to $91 and Barclays to $114).
Globus Medical, Inc. (NYSE:GMED - Get Free Report) SVP Kelly Huller sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $90.00, for a total transaction of $675,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Globus Medical Price Performance
Shares of Globus Medical stock opened at $91.04 on Friday. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $94.93. The firm has a market cap of $12.18 billion, a PE ratio of 35.02, a PEG ratio of 1.68 and a beta of 1.15. The company has a 50 day simple moving average of $68.13 and a two-hundred day simple moving average of $61.73.
Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The medical device company reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.39. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. The firm had revenue of $769.05 million for the quarter, compared to analyst estimates of $734.58 million. During the same quarter in the prior year, the firm earned $0.83 EPS. The business's revenue for the quarter was up 22.9% compared to the same quarter last year. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. As a group, research analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current year.
Wall Street Analyst Weigh In
Several brokerages have issued reports on GMED. Bank of America raised Globus Medical from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $65.00 to $91.00 in a research note on Friday, November 7th. Wells Fargo & Company boosted their target price on Globus Medical from $66.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday, November 7th. Weiss Ratings restated a "hold (c)" rating on shares of Globus Medical in a report on Wednesday, October 8th. Wall Street Zen raised Globus Medical from a "buy" rating to a "strong-buy" rating in a research note on Sunday, November 16th. Finally, Barclays lifted their price objective on Globus Medical from $106.00 to $114.00 and gave the company an "overweight" rating in a research report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.91.
Check Out Our Latest Analysis on GMED
Institutional Trading of Globus Medical
A number of hedge funds have recently made changes to their positions in GMED. Advisory Services Network LLC bought a new position in Globus Medical during the 3rd quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its stake in shares of Globus Medical by 74.3% in the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company's stock worth $27,000 after acquiring an additional 197 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Globus Medical in the second quarter worth $28,000. First Horizon Corp bought a new position in shares of Globus Medical during the third quarter valued at $31,000. Finally, Parallel Advisors LLC raised its position in shares of Globus Medical by 45.1% in the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company's stock worth $32,000 after purchasing an additional 173 shares during the last quarter. 95.16% of the stock is owned by institutional investors.
About Globus Medical
(
Get Free Report)
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.
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