David Davidar Sells 25,000 Shares of Globus Medical (NYSE:GMED) Stock

Globus Medical, Inc. (NYSE:GMED) Director David Davidar sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $86.00, for a total value of $2,150,000.00. Following the transaction, the director directly owned 516,275 shares of the company’s stock, valued at $44,399,650. The trade was a 4.62% 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 Up 0.4%

NYSE:GMED opened at $84.34 on Friday. Globus Medical, Inc. has a twelve month low of $51.79 and a twelve month high of $94.93. The stock has a market cap of $11.39 billion, a P/E ratio of 32.44, a price-to-earnings-growth ratio of 1.68 and a beta of 1.15. The firm’s fifty day simple moving average is $62.30 and its 200 day simple moving average is $60.45.

Globus Medical (NYSE:GMED) last announced its earnings results on Thursday, November 6th. The medical device company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.39. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. The firm had revenue of $769.05 million for the quarter, compared to analyst estimates of $734.58 million. During the same quarter in the previous year, the firm posted $0.83 EPS. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. On average, analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Globus Medical

Institutional investors and hedge funds have recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in shares of Globus Medical by 1,007.7% in the first quarter. Larson Financial Group LLC now owns 432 shares of the medical device company’s stock worth $32,000 after acquiring an additional 393 shares during the period. EverSource Wealth Advisors LLC boosted its position in Globus Medical by 74.3% in the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after purchasing an additional 197 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Globus Medical during the 2nd quarter valued at about $28,000. First Horizon Corp bought a new stake in shares of Globus Medical during the 3rd quarter valued at about $31,000. Finally, Parallel Advisors LLC increased its position in shares of Globus Medical by 45.1% during the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock valued at $32,000 after purchasing an additional 173 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GMED has been the subject of several recent research reports. Canaccord Genuity Group lowered their price objective on Globus Medical from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 22nd. Barclays raised their price objective on shares of Globus Medical from $106.00 to $114.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Stifel Nicolaus initiated coverage on shares of Globus Medical in a report on Tuesday, October 28th. They set a “hold” rating and a $64.00 price target on the stock. Royal Bank Of Canada raised their price target on shares of Globus Medical from $88.00 to $92.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Finally, Zacks Research raised Globus Medical from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.82.

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.