Insider Selling: Globus Medical (NYSE:GMED) CFO Sells 18,542 Shares of Stock

Globus Medical, Inc. (NYSE:GMED) CFO Kyle Kline sold 18,542 shares of Globus Medical stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $90.00, for a total transaction of $1,668,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Globus Medical Stock Down 1.4%

GMED traded down $1.26 during midday trading on Wednesday, reaching $87.77. The company had a trading volume of 2,042,462 shares, compared to its average volume of 1,498,808. The business has a 50-day moving average of $70.08 and a two-hundred day moving average of $62.38. The company has a market cap of $11.75 billion, a P/E ratio of 28.31, a P/E/G ratio of 1.66 and a beta of 1.07. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $94.93.

Globus Medical (NYSE:GMED) last issued its earnings results on Thursday, November 6th. The medical device company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.39. Globus Medical had a return on equity of 11.52% and a net margin of 15.30%.The company had revenue of $769.05 million for the quarter, compared to the consensus estimate of $734.58 million. During the same quarter last year, the company earned $0.83 EPS. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. On average, equities research analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on GMED. Bank of America raised shares of Globus Medical from a “neutral” rating to a “buy” rating and increased their price target for the company from $65.00 to $91.00 in a research report on Friday, November 7th. Morgan Stanley raised their target price on shares of Globus Medical from $70.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Globus Medical in a research report on Wednesday, October 8th. Stifel Nicolaus started coverage on shares of Globus Medical in a research report on Tuesday, October 28th. They issued a “hold” rating and a $64.00 target price on the stock. Finally, 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 note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $92.82.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GMED. IFP Advisors Inc grew its position in Globus Medical by 1.8% during the third quarter. IFP Advisors Inc now owns 15,189 shares of the medical device company’s stock worth $874,000 after buying an additional 273 shares during the period. Swiss Life Asset Management Ltd purchased a new stake in Globus Medical during the third quarter valued at about $297,000. Wilmington Savings Fund Society FSB raised its stake in shares of Globus Medical by 14.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,720 shares of the medical device company’s stock valued at $156,000 after acquiring an additional 350 shares during the period. Captrust Financial Advisors boosted its position in shares of Globus Medical by 9.4% in the third quarter. Captrust Financial Advisors now owns 26,630 shares of the medical device company’s stock worth $1,525,000 after buying an additional 2,297 shares during the period. Finally, Danske Bank A S purchased a new stake in shares of Globus Medical during the third quarter valued at approximately $604,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

About Globus Medical

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.