Key Points
- CFO Kyle Kline sold 18,542 shares on Dec. 1 at an average price of $90, totaling $1,668,780, according to an SEC filing.
- Globus Medical beat Q3 expectations with $1.18 EPS vs. $0.79 est. and $769.05M revenue (up 22.9% YoY), and set FY2025 guidance of $3.75–$3.85 EPS.
- Institutional ownership is high at 95.16%, with large inflows from firms like AllianceBernstein and Invesco, and analysts hold a consensus "Moderate Buy" with a $92.82 price target.
Globus Medical, Inc. (NYSE:GMED - Get Free Report) CFO Kyle Kline sold 18,542 shares of the business's stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $90.00, for a total value of $1,668,780.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Globus Medical Trading Down 1.4%
GMED opened at $87.77 on Thursday. The company has a market cap of $11.75 billion, a P/E ratio of 28.31, a PEG ratio of 1.66 and a beta of 1.07. The company's 50 day moving average is $70.08 and its 200-day moving average is $62.38. Globus Medical, Inc. has a 1-year low of $51.79 and a 1-year high of $94.93.
Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The medical device company reported $1.18 EPS for the quarter, beating the consensus estimate of $0.79 by $0.39. Globus Medical had a net margin of 15.30% and a return on equity of 11.52%. The business had revenue of $769.05 million during the quarter, compared to the consensus estimate of $734.58 million. During the same quarter in the prior year, the firm earned $0.83 EPS. The firm's revenue 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. On average, equities analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in GMED. Alliancebernstein L.P. lifted its position in shares of Globus Medical by 1,303.9% in the 3rd quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company's stock worth $117,700,000 after purchasing an additional 1,908,795 shares during the period. Invesco Ltd. lifted its holdings in Globus Medical by 331.9% in the first quarter. Invesco Ltd. now owns 2,021,156 shares of the medical device company's stock valued at $147,949,000 after buying an additional 1,553,154 shares during the period. Boston Trust Walden Corp acquired a new position in Globus Medical in the third quarter valued at $67,891,000. Norges Bank bought a new stake in Globus Medical during the second quarter valued at $68,038,000. Finally, ANTIPODES PARTNERS Ltd grew its holdings in Globus Medical by 49,020.3% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 891,043 shares of the medical device company's stock worth $51,034,000 after acquiring an additional 889,229 shares during the period. Institutional investors own 95.16% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the company. Stifel Nicolaus initiated coverage on Globus Medical in a research report on Tuesday, October 28th. They set a "hold" rating and a $64.00 price objective on the stock. Bank of America raised Globus Medical from a "neutral" rating to a "buy" rating and upped their price objective for the company from $65.00 to $91.00 in a research note on Friday, November 7th. Wells Fargo & Company lifted 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. Wall Street Zen raised shares of Globus Medical from a "buy" rating to a "strong-buy" rating in a report on Sunday, November 16th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Globus Medical in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $92.82.
Read Our Latest Report on Globus Medical
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.
Further Reading
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