Insider Selling: Globus Medical (NYSE:GMED) EVP Sells 20,000 Shares of Stock

Globus Medical, Inc. (NYSE:GMED) EVP Kelly Huller sold 20,000 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $94.50, for a total value of $1,890,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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 transaction of $876,700.00.

Globus Medical Stock Performance

NYSE GMED traded down $1.32 on Friday, reaching $95.39. The company had a trading volume of 1,205,994 shares, compared to its average volume of 1,436,818. The company’s fifty day moving average is $90.69 and its 200-day moving average is $76.38. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 1.37 and a beta of 1.06. Globus Medical, Inc. has a 1-year low of $51.79 and a 1-year high of $101.40.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Tuesday, February 24th. The medical device company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.22. Globus Medical had a net margin of 18.30% and a return on equity of 12.57%. The company had revenue of $826.42 million for the quarter, compared to the consensus estimate of $803.29 million. During the same period last year, the company earned $0.84 earnings per share. The firm’s revenue was up 25.7% compared to the same quarter last year. On average, research analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

GMED has been the topic of several research reports. Citigroup reaffirmed a “market perform” rating on shares of Globus Medical in a research report on Thursday, January 8th. Barclays upped their price target on shares of Globus Medical from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday. Wells Fargo & Company lifted their price objective on shares of Globus Medical from $98.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday. Wall Street Zen upgraded Globus Medical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 3rd. Finally, Royal Bank Of Canada raised their price objective on Globus Medical from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Globus Medical currently has an average rating of “Moderate Buy” and an average target price of $104.36.

Institutional Trading of Globus Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in Globus Medical by 1,235.2% during the 4th quarter. Invesco Ltd. now owns 3,886,405 shares of the medical device company’s stock worth $339,322,000 after buying an additional 3,595,339 shares during the period. Bank of Montreal Can boosted its stake in shares of Globus Medical by 15,317.1% in the 4th quarter. Bank of Montreal Can now owns 3,373,260 shares of the medical device company’s stock worth $294,519,000 after buying an additional 3,351,380 shares during the last quarter. Alliancebernstein L.P. grew its stake in Globus Medical by 1,303.9% in the 3rd quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company’s stock valued at $117,700,000 after purchasing an additional 1,908,795 shares during the period. Boston Trust Walden Corp purchased a new stake in Globus Medical during the third quarter worth about $67,891,000. Finally, Norges Bank purchased a new stake in shares of Globus Medical during the 2nd quarter worth approximately $68,038,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

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.