Insider Selling: Globus Medical (NYSE:GMED) EVP Sells $1,890,000.00 in Stock

Globus Medical, Inc. (NYSE:GMED) EVP Kelly Huller sold 20,000 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total value of $1,890,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Kelly Huller also recently made the following trade(s):

• On Thursday, February 12th, Kelly Huller sold 10,000 shares of Globus Medical stock. The shares were sold at an average price of $87.67, for a total value of $876,700.00.

Globus Medical Price Performance

GMED stock opened at $95.39 on Monday. The stock has a market capitalization of $12.77 billion, a P/E ratio of 24.21, a P/E/G ratio of 2.21 and a beta of 1.05. Globus Medical, Inc. has a fifty-two week low of $51.79 and a fifty-two week high of $101.40. The business has a 50-day moving average of $90.69 and a 200-day moving average of $76.58.

Globus Medical (NYSE:GMED) last released its earnings results on Tuesday, February 24th. The medical device company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.06 by $0.22. Globus Medical had a return on equity of 12.57% and a net margin of 18.30%.The firm had revenue of $826.42 million for the quarter, compared to analysts’ expectations of $803.29 million. During the same quarter in the previous year, the business posted $0.84 EPS. The business’s quarterly revenue was up 25.7% compared to the same quarter last year. Equities analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. BTIG Research reissued a “neutral” rating on shares of Globus Medical in a research report on Tuesday, December 30th. Citigroup reissued a “market perform” rating on shares of Globus Medical in a research report on Thursday, January 8th. Zacks Research lowered Globus Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Morgan Stanley upped their price objective on Globus Medical from $70.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Finally, Canaccord Genuity Group increased their price objective on Globus Medical from $105.00 to $112.00 and gave the company a “buy” rating in a report on Friday, January 9th. One 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.36.

Institutional Trading of Globus Medical

A number of hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC acquired a new position in shares of Globus Medical in the 3rd quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased 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 worth $27,000 after buying an additional 197 shares during the period. Advisors Asset Management Inc. bought a new position in Globus Medical during the second quarter worth $28,000. SBI Securities Co. Ltd. raised its stake in Globus Medical by 98.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company’s stock worth $29,000 after buying an additional 167 shares during the last quarter. Finally, First Horizon Corp acquired a new position in Globus Medical in the third quarter valued at $31,000. 95.16% of the stock is owned by institutional investors and hedge funds.

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.