Key Points
- Director James Tobin sold 30,000 Globus Medical shares at an average price of $74.58, generating $2.24 million and reducing his direct ownership by 66.67% to 15,000 shares.
- Globus Medical reported quarterly adjusted earnings of $1.34 per share and revenue of $789.61 million, exceeding analyst estimates; revenue increased 5.9% year over year.
- Analysts maintain a Moderate Buy consensus with an average price target of $101.77, while institutional investors own 95.16% of the company’s stock.
Globus Medical, Inc. (NYSE:GMED - Get Free Report) Director James Tobin sold 30,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $74.58, for a total value of $2,237,400.00. Following the transaction, the director directly owned 15,000 shares in the company, valued at approximately $1,118,700. This represents a 66.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Globus Medical Trading Up 0.8%
Globus Medical stock opened at $75.30 on Thursday. The firm has a market capitalization of $10.11 billion, a P/E ratio of 19.26, a PEG ratio of 1.20 and a beta of 0.95. The stock has a fifty day moving average price of $80.20 and a 200 day moving average price of $83.33. Globus Medical, Inc. has a 52 week low of $54.15 and a 52 week high of $101.40.
Globus Medical (NYSE:GMED - Get Free Report) last released its earnings results on Thursday, August 6th. The medical device company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.24. Globus Medical had a return on equity of 14.57% and a net margin of 17.02%.The firm had revenue of $789.61 million for the quarter, compared to the consensus estimate of $782.88 million. During the same period in the prior year, the business posted $0.86 earnings per share. The firm's revenue for the quarter was up 5.9% compared to the same quarter last year. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. As a group, equities analysts predict that Globus Medical, Inc. will post 4.99 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on GMED shares. UBS Group began coverage on shares of Globus Medical in a research report on Tuesday, July 28th. They set a "neutral" rating and a $82.00 price target for the company. Zacks Research upgraded Globus Medical from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Wells Fargo & Company reduced their target price on Globus Medical from $103.00 to $99.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Piper Sandler lowered their price target on Globus Medical from $115.00 to $100.00 and set an "overweight" rating for the company in a research report on Monday, June 15th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Globus Medical in a research note on Monday, July 13th. Three equities research analysts have 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.77.
Get Our Latest Research Report on GMED
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Elevation Wealth Partners LLC boosted its holdings in Globus Medical by 2,178.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 319 shares of the medical device company's stock worth $25,000 after acquiring an additional 305 shares during the period. Continuum Advisory LLC acquired a new position in Globus Medical in the 2nd quarter worth $25,000. Larson Financial Group LLC boosted its position in Globus Medical by 83.4% in the 4th quarter. Larson Financial Group LLC now owns 532 shares of the medical device company's stock valued at $46,000 after buying an additional 242 shares during the last quarter. Summit Securities Group LLC purchased a new position in Globus Medical in the 1st quarter valued at about $48,000. Finally, Clearstead Advisors LLC grew its stake in shares of Globus Medical by 123.6% during the fourth quarter. Clearstead Advisors LLC now owns 738 shares of the medical device company's stock valued at $64,000 after acquiring an additional 408 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.
Globus Medical Company Profile
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Get Free Report)
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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