Kelly Huller Sells 20,000 Shares of Globus Medical (NYSE:GMED) Stock

Globus Medical, Inc. (NYSE:GMED) EVP Kelly Huller sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total value of $1,890,000.00. The sale was disclosed in a legal filing with the SEC, 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 value of $876,700.00.

Globus Medical Stock Performance

GMED opened at $95.39 on Friday. The company has a market cap of $12.77 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 2.21 and a beta of 1.06. Globus Medical, Inc. has a one year low of $51.79 and a one year high of $101.40. The business’s fifty day moving average is $90.69 and its two-hundred day moving average is $76.48.

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

Institutional Trading of Globus Medical

A number of hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC acquired a new position in shares of Globus Medical during the 3rd quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its holdings 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 valued at $27,000 after purchasing an additional 197 shares during the period. Advisors Asset Management Inc. acquired a new position in Globus Medical during the second quarter worth approximately $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 purchasing an additional 167 shares during the period. Finally, First Horizon Corp acquired a new position in shares of Globus Medical in the 3rd quarter valued at $31,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on GMED. Citigroup restated a “market perform” rating on shares of Globus Medical in a research report on Thursday, January 8th. Zacks Research cut Globus Medical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Truist Financial set a $115.00 price objective on Globus Medical in a research note on Wednesday. Barclays lifted their price objective on Globus Medical from $118.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Royal Bank Of Canada upped their target price on shares of Globus Medical from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. One equities research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.36.

Globus Medical Company Profile

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.