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

Key Points

• Director James Tobin sold 30,000 Globus Medical shares at an average price of $74.58, totaling $2.24 million and reducing his holdings by 66.67% to 15,000 shares.
• GMED shares rose 0.8% to $75.30, while the company reported quarterly EPS of $1.34—beating estimates—and revenue of $789.61 million, up 5.9% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $101.77, although several firms recently lowered their targets; institutional investors own 95.16% of the stock.

Globus Medical, Inc. (NYSE:GMED - Get Free Report) Director James Tobin sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $74.58, for a total transaction of $2,237,400.00. Following the sale, the director owned 15,000 shares of the company's stock, valued at $1,118,700. The trade was a 66.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Globus Medical Stock Up 0.8%

Globus Medical stock traded up $0.61 during mid-day trading on Wednesday, hitting $75.30. The company's stock had a trading volume of 1,332,678 shares, compared to its average volume of 1,470,638. The stock has a market capitalization of $10.11 billion, a P/E ratio of 19.26, a P/E/G ratio of 1.22 and a beta of 0.95. Globus Medical, Inc. has a twelve month low of $54.15 and a twelve month high of $101.40. The stock's fifty day moving average price is $80.22 and its two-hundred day moving average price is $83.48.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on GMED. Piper Sandler cut their price objective on Globus Medical from $115.00 to $100.00 and set an "overweight" rating on the stock in a report on Monday, June 15th. BMO Capital Markets assumed coverage on shares of Globus Medical in a research report on Wednesday, July 8th. They issued an "outperform" rating and a $94.00 target price on the stock. Wells Fargo & Company cut their price target on shares of Globus Medical from $103.00 to $99.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Weiss Ratings restated a "hold (c+)" rating on shares of Globus Medical in a research report on Monday, July 13th. Finally, Stifel Nicolaus decreased their price objective on shares of Globus Medical from $95.00 to $80.00 and set a "hold" rating for the company in a research note on Wednesday, July 8th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $101.77.

Institutional Investors Weigh In On Globus Medical

A number of institutional investors have recently bought and sold shares of GMED. Sequoia Financial Advisors LLC grew its stake in Globus Medical by 0.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 80,753 shares of the medical device company's stock valued at $6,380,000 after acquiring an additional 402 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Globus Medical by 14.9% in the second quarter. Tidal Investments LLC now owns 14,357 shares of the medical device company's stock worth $1,134,000 after purchasing an additional 1,861 shares in the last quarter. Van Hulzen Asset Management LLC boosted its holdings in shares of Globus Medical by 6.5% during the second quarter. Van Hulzen Asset Management LLC now owns 32,869 shares of the medical device company's stock worth $2,597,000 after purchasing an additional 2,000 shares during the period. Engineers Gate Manager LP grew its position in Globus Medical by 74.8% during the second quarter. Engineers Gate Manager LP now owns 12,949 shares of the medical device company's stock valued at $1,023,000 after purchasing an additional 5,543 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Globus Medical by 30.4% in the 2nd quarter. NewEdge Advisors LLC now owns 39,810 shares of the medical device company's stock valued at $3,145,000 after buying an additional 9,270 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Company Profile

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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