Globus Medical (NYSE:GMED) EVP Kelly Huller Sells 20,000 Shares of Stock

Globus Medical, Inc. (NYSE:GMED) EVP Kelly Huller sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total transaction of $1,890,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Kelly Huller also recently made the following trade(s):

• On Thursday, February 12th, Kelly Huller sold 10,000 shares of Globus Medical stock. The stock was sold at an average price of $87.67, for a total value of $876,700.00.

Globus Medical Stock Down 1.4%

GMED stock opened at $95.39 on Friday. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $101.40. The stock has a market cap of $12.77 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 2.24 and a beta of 1.06. The business has a fifty day moving average of $90.69 and a two-hundred day moving average of $76.38.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Tuesday, February 24th. The medical device company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.22. The business had revenue of $826.42 million during the quarter, compared to analysts’ expectations of $803.29 million. Globus Medical had a return on equity of 12.57% and a net margin of 18.30%.The company’s revenue was up 25.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 EPS. As a group, sell-side analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.

Institutional Trading of Globus Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its holdings in shares of Globus Medical by 45.9% in the 1st quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company’s stock valued at $1,622,000 after acquiring an additional 7,086 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in Globus Medical by 33.0% during the first quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company’s stock worth $320,000 after purchasing an additional 1,085 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Globus Medical by 38.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company’s stock valued at $2,228,000 after purchasing an additional 8,540 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Globus Medical by 237.3% in the first quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock valued at $62,000 after purchasing an additional 598 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Globus Medical by 8.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,527 shares of the medical device company’s stock worth $25,439,000 after purchasing an additional 28,027 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on GMED. BTIG Research restated a “neutral” rating on shares of Globus Medical in a report on Tuesday, December 30th. Citigroup restated a “market perform” rating on shares of Globus Medical in a research note on Thursday, January 8th. Canaccord Genuity Group raised their price target on Globus Medical from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Bank of America upgraded Globus Medical from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $91.00 in a report on Friday, November 7th. Finally, Piper Sandler reissued an “overweight” rating and set a $115.00 target price (up from $90.00) on shares of Globus Medical in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.36.

Globus Medical Company Profile

Globus Medical, Inc (NYSE:GMED) is a leading medical device company specializing in musculoskeletal solutions for spine and orthopaedic applications. Founded in 2003 by David C. Paul and headquartered in Audubon, Pennsylvania, the company develops, manufactures and markets implantable devices and surgical instruments designed to treat spinal disorders and promote bone healing. Its product portfolio encompasses solutions for minimally invasive and open surgical procedures, including interbody fusion devices, pedicle screw systems, and biologics used to enhance fusion outcomes.

In addition to its core spine business, Globus Medical has expanded into robotics and navigation systems to support precision and efficiency in the operating room.