Kelly Huller Sells 5,000 Shares of Globus Medical, Inc. (NYSE:GMED) Stock

Globus Medical, Inc. (NYSE:GMED) SVP Kelly Huller sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Globus Medical Stock Down 1.3 %

Shares of NYSE:GMED opened at $80.88 on Friday. The company has a market cap of $10.95 billion, a PE ratio of 120.72, a P/E/G ratio of 2.19 and a beta of 1.17. The firm has a 50-day simple moving average of $72.28 and a 200 day simple moving average of $68.46. Globus Medical, Inc. has a fifty-two week low of $43.38 and a fifty-two week high of $84.87.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The business had revenue of $625.71 million for the quarter, compared to analysts’ expectations of $604.69 million. During the same period in the previous year, the business earned $0.57 earnings per share. The company’s revenue was up 63.1% on a year-over-year basis. As a group, research analysts forecast that Globus Medical, Inc. will post 2.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Globus Medical

Institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in Globus Medical during the 3rd quarter valued at $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Globus Medical in the second quarter worth approximately $33,000. Farther Finance Advisors LLC boosted its holdings in shares of Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after purchasing an additional 385 shares during the period. GAMMA Investing LLC grew its position in Globus Medical by 254.5% during 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 in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Globus Medical in the 2nd quarter valued at approximately $52,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barclays raised their price objective on Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Canaccord Genuity Group upped their target price on shares of Globus Medical from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial raised their price objective on shares of Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Stifel Nicolaus upped their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley raised their price target on shares of Globus Medical from $67.00 to $71.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.09.

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.