Globus Medical (NYSE:GMED) Stock: Insider James Tobin Sells 41,666 Shares

Key Points

• Director James Tobin sold 41,666 shares for about $3.13 million, reducing his stake by 73.53% to 15,000 shares.
• Globus Medical beat quarterly EPS estimates with $1.23 per share versus $1.20 expected, but revenue of $763.72 million missed forecasts and declined 0.7% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $96.08; shares traded at $72.30 in the report.

Globus Medical, Inc. (NYSE:GMED - Get Free Report) Director James Tobin sold 41,666 shares of the business's stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $75.16, for a total value of $3,131,616.56. Following the completion of the sale, the director 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 Stock Performance

GMED traded down $3.09 during midday trading on Thursday, hitting $72.30. The stock had a trading volume of 1,694,658 shares, compared to its average volume of 1,532,362. The company has a market cap of $9.71 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 1.16 and a beta of 0.98. The business has a fifty day moving average of $76.85 and a 200 day moving average of $82.91. 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 issued its quarterly 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 business had revenue of $763.72 million for the quarter, compared to analysts' expectations of $792.39 million. Globus Medical had a net margin of 17.76% and a return on equity of 14.43%. The business's quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the business earned $1.18 earnings per share. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. On average, equities research analysts anticipate that Globus Medical, Inc. will post 4.98 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on GMED shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Globus Medical in a research note on Friday, October 9th. Royal Bank Of Canada reduced their price objective on Globus Medical from $115.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, October 1st. BMO Capital Markets cut Globus Medical from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $94.00 to $78.00 in a research note on Friday, November 6th. Wells Fargo & Company lifted their price objective on Globus Medical from $99.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, November 6th. Finally, Wall Street Zen cut Globus Medical from a "buy" rating to a "hold" rating in a report on Saturday, November 7th. One equities research 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 stock. Based on data from MarketBeat, Globus Medical presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.08.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Washington Trust Advisors Inc. grew its holdings in Globus Medical by 116.8% in the 2nd quarter. Washington Trust Advisors Inc. now owns 45,006 shares of the medical device company's stock worth $3,556,000 after acquiring an additional 24,250 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Globus Medical in the second quarter valued at about $1,858,000. WCM Investment Management LLC bought a new position in shares of Globus Medical during the first quarter valued at about $16,965,000. Public Employees Retirement System of Ohio bought a new position in shares of Globus Medical during the second quarter valued at about $7,941,000. Finally, Congress Asset Management Co. raised its stake in shares of Globus Medical by 6.6% during the third quarter. Congress Asset Management Co. now owns 361,026 shares of the medical device company's stock valued at $27,041,000 after acquiring an additional 22,401 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

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.

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