Key Points
- Director James Tobin sold 41,666 Globus Medical shares at an average $75.16, worth about $3.13 million, reducing his direct stake by 73.53% to 15,000 shares.
- Globus Medical beat quarterly EPS expectations, reporting $1.23 versus analysts’ $1.20 estimate, but revenue of $763.72 million fell short of forecasts and was down 0.7% year over year.
- Analyst views were mixed; the stock has a “Moderate Buy” consensus rating and an average price target of $96.08.
Globus Medical, Inc. (NYSE:GMED - Get Free Report) Director James Tobin sold 41,666 shares of the business's stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $75.16, for a total transaction of $3,131,616.56. Following the completion of the sale, the director directly owned 15,000 shares of the company's stock, valued at approximately $1,127,400. This trade represents a 73.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Globus Medical Price Performance
NYSE GMED opened at $72.30 on Friday. The company has a fifty day moving average of $76.68 and a two-hundred day moving average of $82.81. The company has a market capitalization of $9.71 billion, a PE ratio of 15.17, a P/E/G ratio of 1.17 and a beta of 0.98. Globus Medical, Inc. has a 1 year low of $70.39 and a 1 year high of $101.40.
Globus Medical (NYSE:GMED - Get Free Report) last posted its earnings results on Thursday, November 5th. The medical device company reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.03. Globus Medical had a return on equity of 14.43% and a net margin of 17.76%. The business had revenue of $763.72 million for the quarter, compared to analysts' expectations of $792.39 million. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The business's revenue was down .7% compared to the same quarter last year. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. On average, research analysts expect that Globus Medical, Inc. will post 4.98 earnings per share for the current year.
Hedge Funds Weigh In On Globus Medical
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gabelli Funds LLC grew its stake in shares of Globus Medical by 0.5% during the 3rd quarter. Gabelli Funds LLC now owns 212,000 shares of the medical device company's stock worth $15,879,000 after purchasing an additional 1,000 shares during the period. AlphaGrep UK Ltd increased its holdings in Globus Medical by 345.1% in the third quarter. AlphaGrep UK Ltd now owns 19,587 shares of the medical device company's stock valued at $1,467,000 after buying an additional 15,186 shares in the last quarter. GW&K Investment Management LLC increased its holdings in Globus Medical by 1.3% in the third quarter. GW&K Investment Management LLC now owns 1,472,542 shares of the medical device company's stock valued at $110,294,000 after buying an additional 19,336 shares in the last quarter. Private Advisor Group LLC purchased a new position in Globus Medical in the third quarter valued at about $296,000. Finally, Boston Partners lifted its position in shares of Globus Medical by 119.7% during the 3rd quarter. Boston Partners now owns 3,415,554 shares of the medical device company's stock valued at $255,898,000 after acquiring an additional 1,860,564 shares during the period. Institutional investors and hedge funds own 95.16% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on GMED shares. BMO Capital Markets lowered Globus Medical from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $94.00 to $78.00 in a research report on Friday, November 6th. Zacks Research downgraded Globus Medical from a "strong-buy" rating to a "hold" rating in a report on Monday. Wells Fargo & Company raised their target price on shares of Globus Medical from $99.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday, November 6th. Wall Street Zen lowered shares of Globus Medical from a "buy" rating to a "hold" rating in a research report on Saturday, November 7th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Globus Medical in a report on Friday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, Globus Medical currently has an average rating of "Moderate Buy" and an average price target of $96.08.
Read Our Latest Stock Analysis on GMED
About Globus Medical
(
Get Free Report)
Globus Medical is a medical device company focused on musculoskeletal care. Its products include implants and instruments used in spine surgery, as well as solutions for orthopedic trauma and other orthopedic procedures. The company also develops surgical technologies, including robotic navigation and imaging systems designed to support planning and guidance during procedures. Its portfolio expanded significantly in 2023 when Globus Medical completed its combination with NuVasive, a provider of spine care products and technologies.
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