Kyle Kline Sells 3,594 Shares of Globus Medical (NYSE:GMED) Stock

Globus Medical, Inc. (NYSE:GMED) CFO Kyle Kline sold 3,594 shares of Globus Medical stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $101.10, for a total transaction of $363,353.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Kyle Kline also recently made the following trade(s):

• On Monday, December 1st, Kyle Kline sold 18,542 shares of Globus Medical stock. The shares were sold at an average price of $90.00, for a total transaction of $1,668,780.00.

Globus Medical Trading Down 2.9%

Globus Medical stock traded down $2.72 during mid-day trading on Monday, reaching $91.75. The company had a trading volume of 1,990,840 shares, compared to its average volume of 2,293,094. The business has a fifty day simple moving average of $86.41 and a 200 day simple moving average of $68.25. The company has a market cap of $12.28 billion, a P/E ratio of 29.60, a P/E/G ratio of 1.58 and a beta of 1.06. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week high of $101.40.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, November 6th. The medical device company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.39. Globus Medical had a return on equity of 11.52% and a net margin of 15.30%.The company had revenue of $769.05 million during the quarter, compared to the consensus estimate of $734.58 million. During the same quarter in the prior year, the firm posted $0.83 earnings per share. The firm’s revenue 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. Research analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current year.

Hedge Funds Weigh In On Globus Medical

A number of institutional investors and hedge funds have recently made changes to their positions in GMED. Advisory Services Network LLC acquired a new stake in Globus Medical in the third quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Globus Medical by 74.3% during the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock valued at $27,000 after purchasing an additional 197 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in Globus Medical in the second quarter worth $28,000. First Horizon Corp purchased a new position in Globus Medical in the third quarter valued at approximately $31,000. Finally, Parallel Advisors LLC boosted its position in Globus Medical by 45.1% during the third quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock worth $32,000 after purchasing an additional 173 shares during the period. Institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GMED. Barclays boosted their price objective on shares of Globus Medical from $106.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Wells Fargo & Company lifted their target price on Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Zacks Research cut Globus Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. BTIG Research reaffirmed a “neutral” rating on shares of Globus Medical in a research note on Tuesday, December 30th. Finally, Bank of America upgraded Globus Medical from a “neutral” rating to a “buy” rating and upped their target price for the company from $65.00 to $91.00 in a report on Friday, November 7th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Globus Medical presently has an average rating of “Moderate Buy” and an average target price of $97.78.

About Globus Medical

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.