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Ann Rhoads, a director at Globus Medical Inc. (NYSE:GMED), a medical device company with a market capitalization of $10.76 billion and strong financial health according to InvestingPro’s analysis, sold 7,500 shares of the company’s Class A common stock on February 28, 2025. The shares were sold at an average price of $78.68, amounting to a total transaction value of $590,100. Following this transaction, Rhoads holds 35,384 shares in the company. The sale was conducted under a Rule 10b5-1 trading plan established on November 8, 2024. The company, which has seen impressive revenue growth of over 60% in the last twelve months, currently trades at a high earnings multiple with relatively low price volatility. For comprehensive insider trading analysis and 8 additional key insights about GMED, visit InvestingPro.
In other recent news, Globus Medical reported robust financial results for the fourth quarter of 2024, with earnings per share (EPS) of $0.84 and revenue of $657.3 million, both surpassing Wall Street forecasts. The company achieved a 6.6% year-over-year revenue growth, with its Musculoskeletal Solutions segment contributing $610.3 million and the Enabling Technologies segment increasing by 43.5% to $47 million. Following these results, BTIG analyst Ryan Zimmerman raised the price target for Globus Medical shares to $94, maintaining a Buy rating, while Truist Securities kept a Hold rating with a $90 target, citing potential near-term dilution from the Nevro acquisition. The recent acquisition of Nevro Corp (NYSE:NVRO), announced in early February, is anticipated to significantly impact Globus Medical’s 2025 financial guidance, with expected net sales ranging from $2.8 billion to $2.9 billion and adjusted EPS between $3.10 and $3.40. The acquisition is expected to be accretive by fiscal year 2026, with management highlighting the potential of Nevro’s Spinal Cord Stimulation technology within Globus Medical’s Enabling Technologies. Globus Medical’s full-year 2024 revenue reached $2.519 billion, reflecting a 60.6% growth, and the company launched 18 new products during the year, underscoring its focus on innovation. The company also achieved record free cash flow of $405.2 million, marking a 145% increase.
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