Insider Selling: Globus Medical (NYSE:GMED) Director Sells 41,666 Shares of Stock

Globus Medical, Inc. (NYSE:GMED) Director James Tobin sold 41,666 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $75.16, for a total value of $3,131,616.56. Following the transaction, the director directly owned 15,000 shares of the company’s stock, valued at $1,127,400. The trade was a 73.53% 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 Trading Down 4.1%

Shares of GMED stock traded down $3.09 during trading hours on Thursday, reaching $72.30. The company’s stock had a trading volume of 1,694,658 shares, compared to its average volume of 1,532,362. The stock has a market capitalization of $9.71 billion, a P/E ratio of 17.76, a P/E/G ratio of 1.16 and a beta of 0.98. Globus Medical, Inc. has a one year low of $70.39 and a one year high of $101.40. The firm’s fifty day simple moving average is $76.85 and its 200 day simple moving average is $82.91.

Globus Medical (NYSE:GMED) last announced its earnings results on Thursday, November 5th. The medical device company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $763.72 million during the quarter, compared to the consensus estimate of $792.39 million. Globus Medical had a return on equity of 14.43% and a net margin of 17.76%. During the same quarter in the prior year, the company earned $1.18 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. As a group, equities research analysts forecast that Globus Medical, Inc. will post 4.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on GMED. UBS Group began coverage on shares of Globus Medical in a report on Tuesday, July 28th. They issued a “neutral” rating and a $82.00 price objective for the company. BMO Capital Markets lowered shares of Globus Medical from an “outperform” rating to a “market perform” rating and cut their target price for the company from $94.00 to $78.00 in a research note on Friday, November 6th. Truist Financial reduced their price target on shares of Globus Medical from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday. Wells Fargo & Company increased their price target on shares of Globus Medical from $99.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, November 6th. Finally, Royal Bank Of Canada lowered their price objective on shares of Globus Medical from $115.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $96.08.

Hedge Funds Weigh In On Globus Medical

A number of institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its position in Globus Medical by 2.3% during the first quarter. Sanctuary Advisors LLC now owns 6,611 shares of the medical device company’s stock valued at $570,000 after buying an additional 151 shares during the period. Summitry LLC boosted its holdings in shares of Globus Medical by 2.6% during the 1st quarter. Summitry LLC now owns 8,205 shares of the medical device company’s stock valued at $707,000 after buying an additional 211 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of Globus Medical by 7.8% during the 3rd quarter. Central Pacific Bank Trust Division now owns 3,057 shares of the medical device company’s stock valued at $229,000 after buying an additional 220 shares in the last quarter. Arizona State Retirement System grew its position in shares of Globus Medical by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 31,077 shares of the medical device company’s stock worth $2,455,000 after buying an additional 252 shares during the period. Finally, Angeles Wealth Management LLC grew its position in shares of Globus Medical by 5.0% in the 2nd quarter. Angeles Wealth Management LLC now owns 5,894 shares of the medical device company’s stock worth $466,000 after buying an additional 280 shares during the period. Institutional investors own 95.16% of the company’s stock.

Globus Medical Company Profile

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.