Globus Medical, Inc. (NYSE:GMED) Director Sells $70,000.00 in Stock

Globus Medical, Inc. (NYSE:GMED) Director Leslie V. Norwalk sold 1,000 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $70.00, for a total transaction of $70,000.00. Following the transaction, the director now owns 16,419 shares in the company, valued at $1,149,330. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Globus Medical Stock Up 1.0 %

Shares of NYSE:GMED opened at $72.83 on Thursday. The company has a market cap of $9.86 billion, a PE ratio of 113.80, a P/E/G ratio of 2.01 and a beta of 1.15. The company’s 50-day moving average price is $67.04 and its 200 day moving average price is $58.04. Globus Medical, Inc. has a fifty-two week low of $43.38 and a fifty-two week high of $73.28.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Tuesday, May 7th. The medical device company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.17. The firm had revenue of $606.67 million for the quarter, compared to the consensus estimate of $586.82 million. Globus Medical had a net margin of 3.51% and a return on equity of 8.82%. Globus Medical’s quarterly revenue was up 119.3% compared to the same quarter last year. During the same period last year, the firm posted $0.53 EPS. As a group, equities analysts anticipate that Globus Medical, Inc. will post 2.82 EPS for the current year.

Wall Street Analyst Weigh In

GMED has been the topic of a number of recent research reports. BTIG Research raised their price target on shares of Globus Medical from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday. Piper Sandler upgraded shares of Globus Medical from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $80.00 in a research report on Monday, May 20th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Wednesday, May 8th. Morgan Stanley raised their price target on shares of Globus Medical from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Truist Financial raised their price target on shares of Globus Medical from $63.00 to $78.00 and gave the stock a “hold” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and a consensus price target of $73.30.

Hedge Funds Weigh In On Globus Medical

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Globus Medical by 254.5% during the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after buying an additional 453 shares during the period. YHB Investment Advisors Inc. acquired a new position in Globus Medical during the 1st quarter valued at about $50,000. Allworth Financial LP increased its stake in Globus Medical by 25.7% during the 4th quarter. Allworth Financial LP now owns 1,242 shares of the medical device company’s stock valued at $66,000 after buying an additional 254 shares during the period. Mather Group LLC. acquired a new position in Globus Medical during the 1st quarter valued at about $69,000. Finally, Quest Partners LLC acquired a new position in Globus Medical during the 4th quarter valued at about $81,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

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.