Key Points
- Globus Medical director David Davidar sold 25,000 shares on June 5 at an average price of $80.76, totaling about $2.02 million. After the sale, he still owned 510,175 shares, a 4.67% reduction in his stake.
- The stock rose 5.5% and opened at $82.60, with the company carrying a market cap of $11.21 billion and trading between a 12-month low of $51.79 and high of $101.40.
- Recent earnings came in above expectations, with quarterly EPS of $1.12 versus $0.92 expected and revenue of $759.85 million, up 27% year over year. The company also guided FY2026 EPS at 4.700-4.800, while analysts currently rate the stock a Moderate Buy with a $106.36 average target.
Globus Medical, Inc. (NYSE:GMED - Get Free Report) Director David Davidar sold 25,000 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $80.76, for a total transaction of $2,019,000.00. Following the completion of the transaction, the director directly owned 510,175 shares in the company, valued at approximately $41,201,733. This represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Globus Medical Stock Up 5.5%
GMED stock opened at $82.60 on Wednesday. Globus Medical, Inc. has a 12 month low of $51.79 and a 12 month high of $101.40. The firm has a market cap of $11.21 billion, a P/E ratio of 19.21, a P/E/G ratio of 1.61 and a beta of 0.95. The company's 50-day moving average price is $86.08 and its two-hundred day moving average price is $88.20.
Globus Medical (NYSE:GMED - Get Free Report) last released its earnings results on Thursday, May 7th. The medical device company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.92 by $0.20. Globus Medical had a net margin of 18.92% and a return on equity of 13.46%. The firm had revenue of $759.85 million for the quarter, compared to analyst estimates of $740.35 million. During the same period last year, the firm earned $0.68 EPS. The business's quarterly revenue was up 27.0% compared to the same quarter last year. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. Equities analysts predict that Globus Medical, Inc. will post 4.74 EPS for the current year.
Institutional Investors Weigh In On Globus Medical
A number of institutional investors have recently added to or reduced their stakes in GMED. Invesco Ltd. grew its holdings in Globus Medical by 1,235.2% during the 4th quarter. Invesco Ltd. now owns 3,886,405 shares of the medical device company's stock worth $339,322,000 after acquiring an additional 3,595,339 shares during the last quarter. Bank of Montreal Can grew its holdings in Globus Medical by 15,317.1% during the 4th quarter. Bank of Montreal Can now owns 3,373,260 shares of the medical device company's stock worth $294,519,000 after acquiring an additional 3,351,380 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Globus Medical by 1,303.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company's stock worth $117,700,000 after acquiring an additional 1,908,795 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Globus Medical during the 4th quarter worth approximately $90,411,000. Finally, Norges Bank bought a new stake in Globus Medical during the 4th quarter worth approximately $89,922,000. 95.16% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
GMED has been the topic of several research reports. Wall Street Zen lowered shares of Globus Medical from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 9th. Wells Fargo & Company decreased their price target on shares of Globus Medical from $104.00 to $103.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Needham & Company LLC lifted their price target on shares of Globus Medical from $114.00 to $117.00 and gave the company a "buy" rating in a report on Friday, May 8th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Globus Medical in a report on Wednesday, April 15th. Finally, Zacks Research raised shares of Globus Medical from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Globus Medical presently has an average rating of "Moderate Buy" and an average target price of $106.36.
View Our Latest Stock Report on Globus Medical
Globus Medical Company Profile
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Get Free Report)
Globus Medical, Inc (NYSE:GMED) is a leading medical device company specializing in musculoskeletal solutions for spine and orthopaedic applications. Founded in 2003 by David C. Paul and headquartered in Audubon, Pennsylvania, the company develops, manufactures and markets implantable devices and surgical instruments designed to treat spinal disorders and promote bone healing. Its product portfolio encompasses solutions for minimally invasive and open surgical procedures, including interbody fusion devices, pedicle screw systems, and biologics used to enhance fusion outcomes.
In addition to its core spine business, Globus Medical has expanded into robotics and navigation systems to support precision and efficiency in the operating room.
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