James Tobin Sells 30,000 Shares of Globus Medical (NYSE:GMED) Stock

Globus Medical, Inc. (NYSE:GMED) Director James Tobin sold 30,000 shares of the company’s 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 in the company, valued at approximately $1,118,700. The trade was a 66.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Globus Medical Price Performance

NYSE:GMED traded up $0.61 during mid-day trading on Wednesday, reaching $75.30. The stock had a trading volume of 1,332,678 shares, compared to its average volume of 1,470,638. The stock has a market cap of $10.11 billion, a P/E ratio of 19.26, a PEG ratio of 1.22 and a beta of 0.95. The business’s 50 day moving average is $80.22 and its 200 day moving average is $83.48. Globus Medical, Inc. has a fifty-two week low of $54.15 and a fifty-two week high of $101.40.

Globus Medical (NYSE:GMED) last posted its earnings results on Thursday, August 6th. The medical device company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.10 by $0.24. Globus Medical had a net margin of 17.02% and a return on equity of 14.57%. The company had revenue of $789.61 million during the quarter, compared to the consensus estimate of $782.88 million. During the same period in the previous year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. 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 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on GMED. BMO Capital Markets initiated coverage on Globus Medical in a report on Wednesday, July 8th. They set an “outperform” rating and a $94.00 price objective on the stock. UBS Group initiated coverage on Globus Medical in a report on Tuesday, July 28th. They set a “neutral” rating and a $82.00 price target on the stock. Wells Fargo & Company reduced their price objective on shares of Globus Medical from $103.00 to $99.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Globus Medical in a report on Monday, July 13th. Finally, Stifel Nicolaus lowered their target price on shares of Globus Medical from $95.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.77.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC grew its position in Globus Medical by 2.3% in the first quarter. Sanctuary Advisors LLC now owns 6,611 shares of the medical device company’s stock worth $570,000 after acquiring an additional 151 shares in the last quarter. Allworth Financial LP raised its position in Globus Medical by 1.6% during the fourth quarter. Allworth Financial LP now owns 12,545 shares of the medical device company’s stock valued at $1,095,000 after purchasing an additional 199 shares during the period. Summitry LLC lifted its stake in shares of Globus Medical by 2.6% in the 1st quarter. Summitry LLC now owns 8,205 shares of the medical device company’s stock valued at $707,000 after purchasing an additional 211 shares during the last quarter. Main Management ETF Advisors LLC boosted its holdings in shares of Globus Medical by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 21,141 shares of the medical device company’s stock worth $1,846,000 after purchasing an additional 216 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Globus Medical by 83.4% in the 4th quarter. Larson Financial Group LLC now owns 532 shares of the medical device company’s stock worth $46,000 after purchasing an additional 242 shares during the period. 95.16% of the stock is owned by institutional investors.

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.