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Globus Medical, Inc. (NYSE: GMED) saw a decline in short interest during March. As of March 31, short interest totaled 2,831,226 shares, down 14.0% from 3,293,919 shares reported on March 15. Based on an average daily volume of 991,496 shares, the days-to-cover ratio is 2.9 days. Short interest currently represents 2.6% of the company’s stock.
Globus Medical opened at $95.35 on Friday. The stock has a 12-month low of $51.79 and a 12-month high of $101.40. The company’s market capitalization is $12.90 billion. Valuation metrics include a P/E ratio of 24.20, a P/E/G ratio of 2.17, and a beta of 1.09. The shares are trading above a 50-day simple moving average of $89.30 and a 200-day simple moving average of $83.70.
Globus Medical last released quarterly earnings on Tuesday, February 24. For the quarter, the company reported earnings per share (EPS) of $1.28, beating analysts’ consensus estimates of $1.06 by $0.22. The company reported return on equity of 12.57% and a net margin of 18.30%.
Revenue for the quarter was $826.42 million, compared with analyst estimates of $803.29 million. In the prior-year quarter, the company posted EPS of $0.84. Revenue increased 25.7% year over year. Analysts anticipate EPS of 3.44 for the current fiscal year.
Recent analyst actions include:
Three analysts rate the stock as Strong Buy, eight rate it Buy, and five rate it Hold. According to MarketBeat, Globus Medical has an average rating of Moderate Buy and an average price target of $104.36.
In insider transactions, EVP Kelly Huller sold 20,000 shares on February 25. The shares were sold at an average price of $94.50, for total proceeds of $1,890,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission. Corporate insiders own 18.51% of the stock.
Institutional investors and hedge funds have adjusted their positions in Globus Medical:
Institutional investors and hedge funds own 95.16% of the company’s stock.
Globus Medical, Inc. (NYSE: GMED) is a medical device company focused on 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 for spinal disorders and bone healing. Its portfolio includes solutions for minimally invasive and open surgical procedures, such as interbody fusion devices, pedicle screw systems, and biologics used to enhance fusion outcomes.
The company has also expanded into robotics and navigation systems to support precision and efficiency in the operating room.
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