Globus Medical (NYSE:GMED) Posts Earnings Results, Beats Expectations By $0.39 EPS

Globus Medical (NYSE:GMED) announced its quarterly earnings data on Thursday. The medical device company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.39, FiscalAI reports. The firm had revenue of $769.05 million for the quarter, compared to the consensus estimate of $734.58 million. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. The firm’s revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 earnings per share. Globus Medical updated its FY 2025 guidance to 3.750-3.85 EPS.

Globus Medical Price Performance

GMED traded up $20.13 during trading on Friday, reaching $81.84. The company had a trading volume of 7,014,726 shares, compared to its average volume of 1,433,080. The business’s fifty day moving average price is $59.38 and its 200 day moving average price is $59.91. Globus Medical has a 12 month low of $51.79 and a 12 month high of $94.93. The company has a market cap of $11.05 billion, a P/E ratio of 31.48, a PEG ratio of 1.68 and a beta of 1.15.

Insider Activity at Globus Medical

In related news, Director Ann D. Rhoads sold 10,000 shares of Globus Medical stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $58.46, for a total value of $584,600.00. Following the sale, the director owned 25,384 shares of the company’s stock, valued at approximately $1,483,948.64. This trade represents a 28.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.51% of the stock is currently owned by company insiders.

Institutional Trading of Globus Medical

Several large investors have recently made changes to their positions in the company. Sculptor Capital LP boosted its stake in Globus Medical by 31.9% in the second quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company’s stock valued at $162,936,000 after buying an additional 667,850 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Globus Medical by 33.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,468,596 shares of the medical device company’s stock worth $86,677,000 after buying an additional 370,493 shares in the last quarter. Vestal Point Capital LP lifted its stake in shares of Globus Medical by 150.0% in the 2nd quarter. Vestal Point Capital LP now owns 500,000 shares of the medical device company’s stock valued at $29,510,000 after acquiring an additional 300,000 shares during the last quarter. Man Group plc grew its position in Globus Medical by 29.4% during the 2nd quarter. Man Group plc now owns 446,466 shares of the medical device company’s stock worth $26,350,000 after acquiring an additional 101,426 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of 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 during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GMED. Royal Bank Of Canada set a $88.00 price objective on Globus Medical in a research report on Friday, October 10th. Stifel Nicolaus initiated coverage on Globus Medical in a report on Tuesday, October 28th. They set a “hold” rating and a $64.00 price target for the company. Morgan Stanley dropped their price objective on Globus Medical from $75.00 to $68.00 and set an “overweight” rating on the stock in a report on Tuesday, July 15th. Bank of America raised shares of Globus Medical from a “neutral” rating to a “buy” rating and raised their price objective for the company from $65.00 to $91.00 in a research report on Friday. Finally, Canaccord Genuity Group decreased their target price on shares of Globus Medical from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 22nd. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $86.27.

About Globus Medical

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.