Kelly Huller, Senior Vice President, General Counsel, and Corporate Secretary at Globus Medical Inc. (NYSE:GMED), an $11.5 billion medical device company whose stock has surged nearly 84% over the past year, recently sold 2,500 shares of the company's Class A common stock. The sale, executed on December 2, 2024, was conducted at a weighted average price of $87.0006 per share, totaling approximately $217,501. The transaction occurred as GMED trades near its 52-week high of $87.22, with InvestingPro analysis indicating the stock is currently trading at Fair Value. The sale was made under a pre-arranged trading plan established earlier this year.
Additionally, Huller exercised stock options to acquire 2,500 shares at a price of $24.21 per share prior to the sale. This transaction aligns with a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling company stock to avoid potential conflicts of interest. Notably, InvestingPro data reveals management has been actively buying back shares, demonstrating confidence in the company's outlook. For deeper insights into GMED's valuation and 16 additional ProTips, visit InvestingPro.
In other recent news, Globus Medical (TASE:PMCN) has been the subject of optimistic projections. Morgan Stanley (NYSE:MS) sees growth opportunities for the company in the expansion of their robotics sector, specifically with the upcoming ExcelsiusFlex (EFlex) stock. The firm estimates that each 1% share gain in the procedure market could translate to over $11 million in revenue, a substantial potential for growth. This is supported by data from InvestingPro, which reveals that eight analysts have revised their earnings upward for the upcoming period, with the company expected to maintain profitability.
In addition, Globus Medical reported robust Q3 growth in their recent earnings call. The company's sales increased significantly to $626 million, marking a 63% growth year-over-year. Non-GAAP EPS reached a record high of $0.83, up 45%, and the company generated a record free cash flow of $162 million. This growth was driven by strong U.S. spine sales, international expansion, and the continued integration of the NuVasive (NASDAQ:NUVA) merger. The company is optimistic about future growth, particularly in 2025, with a focus on integration, innovation, and cost-saving measures.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.