Globus Medical, Inc. (NYSE:GMED) Director David D. Davidar Sells 30,000 Shares

Globus Medical, Inc. (NYSE:GMED) Director David D. Davidar sold 30,000 shares of Globus Medical stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total value of $2,251,200.00. Following the completion of the sale, the director now owns 536,275 shares in the company, valued at approximately $40,242,076. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Globus Medical Price Performance

Globus Medical stock opened at $72.82 on Friday. The firm has a 50 day simple moving average of $70.70 and a 200-day simple moving average of $65.98. The stock has a market cap of $9.86 billion, a price-to-earnings ratio of 113.78, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. Globus Medical, Inc. has a 1-year low of $43.38 and a 1-year high of $75.98.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.07. The company had revenue of $629.69 million during the quarter, compared to analyst estimates of $615.33 million. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. During the same period in the prior year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was up 115.9% compared to the same quarter last year. Equities analysts expect that Globus Medical, Inc. will post 2.84 earnings per share for the current fiscal year.

Institutional Trading of Globus Medical

A number of hedge funds and other institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new position in Globus Medical in the third quarter valued at about $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in Globus Medical in the 2nd quarter valued at approximately $33,000. GAMMA Investing LLC raised its position in Globus Medical by 254.5% in the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 453 shares during the period. International Assets Investment Management LLC acquired a new position in Globus Medical during the second quarter worth $52,000. Finally, Mather Group LLC. purchased a new position in shares of Globus Medical during the first quarter worth $69,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Globus Medical from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. BTIG Research lifted their target price on shares of Globus Medical from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 7th. Barclays boosted their price target on shares of Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Truist Financial increased their price objective on shares of Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.50.

Globus Medical Company Profile

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.