--- title: "Globus Medical director Tobin sold his entire stake for $3.1 million five days after a guidance cut" description: "James Tobin's November 10 sale left him with zero shares and zero options in Globus Medical, with no trading plan, five days after the company cut its 2026 revenue outlook by up to $130 million. The board's answer was a $500 million buyback increase." publisher: "The Inference" section: "Health" published: 2026-11-13T19:15:52.821Z modified: 2026-11-13T19:15:52.821Z canonical: https://theinference.org/article/globus-medical-director-tobin-sold-his-entire-stake-for-3-1-million-five-days-after-a-guidance-cut language: en keywords: "Insider Trading, Medical Devices, Globus Medical, Robotic Surgery, Guidance" --- # Globus Medical director Tobin sold his entire stake for $3.1 million five days after a guidance cut > James Tobin's November 10 sale left him with zero shares and zero options in Globus Medical, with no trading plan, five days after the company cut its 2026 revenue outlook by up to $130 million. The board's answer was a $500 million buyback increase. ## A director's entire position, gone in one day [James R. Tobin](https://theinference.org/markets/people/james-r-tobin), an 81-year-old [Globus Medical](https://theinference.org/markets/companies/globus-medical) (NYSE: GMED) director who ran [Boston Scientific](https://theinference.org/markets/companies/boston-scientific) from 1999 to 2009 and has sat on this board since August 2015, now owns nothing in the company [1][2]. On November 10 he exercised his final three option tranches, granted in 2019, 2020 and 2021 at strike prices from $43.58 to $65.05, then sold all 41,666 shares at weighted averages of $75.10 and $75.68 [1]. Gross proceeds came to $3.13 million against $2.35 million of exercise cost, a pre-tax spread of about $786,000 [3]. The options did not expire until 2029, 2030 and 2031, so no deadline forced this [1]. [The filing reports no Rule 10b5-1 plan](https://www.sec.gov/Archives/edgar/data/1237831/000119312526458867/0001193125-26-458867-index.htm), the pre-committed selling schedule insiders use to trade blind [1][3]. ## Five days after the outlook came down Globus cut its 2026 revenue forecast to $3.09 billion, from $3.18 billion to $3.22 billion, on November 5, after third-quarter sales of $763.7 million fell short of the $792.4 million analysts expected [4][5]. Net income still rose 18.7% to $141.2 million on cost cuts, and the board added $500 million to its buyback while reaffirming adjusted EPS guidance of $4.95 to $5.05 [6]. A second director, audit committee chair Ann Rhoads, sold 5,000 shares at $85.00 on November 4 under a 10b5-1 plan dated June 10, 2026 [7]. Her sale was scheduled. Tobin's came after the cut, without a plan, at prices roughly $10 lower [5]. BMO downgraded the stock on November 6 [5]. *Chart: **Revenue growth turned negative while gross margin kept climbing** Line chart of Globus Medical quarterly revenue growth versus gross margin, Q4 2024 through Q3 2026* *Quarterly figures from Globus Medical's SEC filings; revenue growth is year over year, gross margin is percent of revenue. Growth in Q1 2026 includes the Nevro acquisition. [9]* ## The bull case runs through margins Chief Financial Officer [Kyle Kline](https://theinference.org/markets/people/kyle-kline) framed the buyback as "confidence in our long-term growth profile," and part of the record supports him: eight straight quarters of sequential adjusted gross margin expansion, Enabling Technologies revenue up 24%, and 73% more surgical robot and navigation units placed than a year earlier [4]. Excluding Nevro, the stimulator maker Globus [bought for $252.5 million](https://theinference.org/article/globus-medical-paid-252-5-million-for-nevro-23-injury-suits-over-its-stimulators-now-share-one-judge), base sales still grew 3% [6]. Analysts carry a $93.43 mean target against the November 12 close of $72.30 [5]. Tobin's exit also has a benign reading: he is 81, [the board's guidelines](https://www.sec.gov/Archives/edgar/data/1237831/000162828026027196/gmed-20260424.htm) ask independent directors to offer to resign after age 72, and his term runs to 2027 [2]. ## London is the next chance to explain it Management [presents at the Jefferies Global Healthcare Conference in London on November 18](https://finance.yahoo.com/healthcare/articles/globus-medical-participate-jefferies-global-210200352.html) at 11:30 GMT, its first public stage since both the cut and the sale [8]. The board offered shareholders $500 million of buybacks in the same week one director chose to hold nothing [8]. Watch whether Tobin serves the term he was elected to, and whether any more Form 4s land before that webcast starts [8]. ## Takeaway A Globus Medical director with no trading plan sold his last shares at about $75, five days after the company cut its 2026 revenue outlook, while the board answered with $500 million more in buybacks. ## Sources 1. [SEC EDGAR, Form 4 statement of changes in beneficial ownership, Globus Medical, James R. Tobin, filed 12 November 2026](https://www.sec.gov/Archives/edgar/data/1237831/000119312526458867/0001193125-26-458867-index.htm) 2. [Globus Medical DEF 14A proxy statement, 24 April 2026](https://www.sec.gov/Archives/edgar/data/1237831/000162828026027196/gmed-20260424.htm) 3. [StockTitan, Globus Medical (GMED) director Tobin exercises options and sells shares on November 10, 12 November 2026](https://www.stocktitan.net/sec-filings/GMED/form-4-globus-medical-inc-insider-trading-activity-cc84a6ae30be.html) 4. [Medical Buyer, Globus Medical net sales drops 0.7% to USD 763.7M, 13 November 2026](https://medicalbuyer.co.in/globus-medical-net-sales-drops-0-7-to-usd-763-7m/) 5. [MT Newswires via MarketScreener, Globus Medical Insider Sold Shares Worth $3,131,547, According to a Recent SEC Filing, 13 November 2026](https://www.marketscreener.com/news/globus-medical-insider-sold-shares-worth-3-131-547-according-to-a-recent-sec-filing-ce785ed9dc89f126) 6. [MyChesCo, Globus Medical Cuts 2026 Sales Outlook, Boosts Buybacks, 13 November 2026](https://www.mychesco.com/a/news/regional/globus-medical-cuts-2026-sales-outlook-boosts-buybacks/) 7. [SEC EDGAR, Form 4, Globus Medical, Ann D. Rhoads, filed 5 November 2026](https://www.sec.gov/Archives/edgar/data/1237831/000119312526450230/ownership.xml) 8. [GlobeNewswire via Yahoo Finance, Globus Medical to Participate in Jefferies Global Healthcare Conference, 9 November 2026](https://finance.yahoo.com/healthcare/articles/globus-medical-participate-jefferies-global-210200352.html) 9. [Globus Medical, quarterly figures from its SEC filings, retrieved 13 November 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001237831) --- Globus Medical director Tobin sold his entire stake for $3.1 million five days after a guidance cut — The Inference. Canonical: https://theinference.org/article/globus-medical-director-tobin-sold-his-entire-stake-for-3-1-million-five-days-after-a-guidance-cut