Insider Selling: Globus Medical (NYSE:GMED) Director Sells $2,237,400.00 in Stock

Globus Medical, Inc. (NYSE:GMED) Director James Tobin sold 30,000 shares of Globus Medical stock in a transaction dated 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 completion of the transaction, the director directly owned 15,000 shares of the company’s stock, valued at approximately $1,118,700. This represents a 66.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $74.06 on Friday. Globus Medical, Inc. has a 1 year low of $54.15 and a 1 year high of $101.40. The firm’s 50-day moving average is $80.07 and its 200 day moving average is $83.12. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 1.19 and a beta of 0.95.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, August 6th. The medical device company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.24. The business had revenue of $789.61 million during the quarter, compared to analyst estimates of $782.88 million. Globus Medical had a net margin of 17.02% and a return on equity of 14.57%. Globus Medical’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business earned $0.86 EPS. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. On average, equities analysts expect that Globus Medical, Inc. will post 4.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Zacks Research raised Globus Medical from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Truist Financial reduced their target price on Globus Medical from $115.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Stifel Nicolaus decreased their price target on Globus Medical from $95.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 8th. Wells Fargo & Company lowered their price target on Globus Medical from $103.00 to $99.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Finally, Piper Sandler dropped their price objective on Globus Medical from $115.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, June 15th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.77.

Institutional Investors Weigh In On Globus Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in GMED. Elevation Wealth Partners LLC lifted its holdings in shares of Globus Medical by 2,178.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 319 shares of the medical device company’s stock valued at $25,000 after buying an additional 305 shares during the period. Continuum Advisory LLC purchased a new position in shares of Globus Medical in the 2nd quarter worth $25,000. Larson Financial Group LLC grew its holdings in shares of Globus Medical by 83.4% in the fourth quarter. Larson Financial Group LLC now owns 532 shares of the medical device company’s stock worth $46,000 after acquiring an additional 242 shares during the period. Summit Securities Group LLC bought a new stake in shares of Globus Medical in the first quarter worth $48,000. Finally, Clearstead Advisors LLC increased its position in 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 during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

About Globus Medical

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.