Globus Medical (NYSE:GMED) Director Leslie Norwalk Sells 2,000 Shares of Stock

Globus Medical, Inc. (NYSE:GMED) Director Leslie Norwalk sold 2,000 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $101.10, for a total transaction of $202,200.00. Following the completion of the sale, the director directly owned 10,419 shares in the company, valued at approximately $1,053,360.90. This represents a 16.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Globus Medical Stock Down 2.9%

Shares of NYSE GMED opened at $91.75 on Tuesday. The company has a market capitalization of $12.28 billion, a PE ratio of 29.60, a P/E/G ratio of 1.58 and a beta of 1.06. Globus Medical, Inc. has a twelve month low of $51.79 and a twelve month high of $101.40. The firm has a fifty day simple moving average of $86.41 and a 200 day simple moving average of $68.25.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GMED shares. BTIG Research restated a “neutral” rating on shares of Globus Medical in a report on Tuesday, December 30th. Wells Fargo & Company boosted their target price on shares of Globus Medical from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Canaccord Genuity Group raised their price target on shares of Globus Medical from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Friday. Barclays lifted their price target 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. Finally, Truist Financial reiterated a “buy” rating and set a $105.00 price objective (up previously from $93.00) on shares of Globus Medical in a report on Tuesday, November 18th. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $97.78.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC acquired a new position in shares of Globus Medical during the third quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its stake in Globus Medical by 74.3% during the 2nd 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 during the last quarter. Advisors Asset Management Inc. bought a new stake in Globus Medical during the 2nd quarter worth approximately $28,000. First Horizon Corp purchased a new stake in shares of Globus Medical in the third quarter worth approximately $31,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Globus Medical by 45.1% in the third 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 in the last quarter. 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.