Keith W. Pfeil Sells 14,167 Shares of Globus Medical, Inc. (NYSE:GMED) Stock

Globus Medical, Inc. (NYSE:GMED) CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Globus Medical Trading Up 2.7 %

Shares of GMED stock opened at $90.56 on Thursday. The stock has a 50-day moving average of $83.55 and a 200-day moving average of $75.53. The stock has a market cap of $12.33 billion, a price-to-earnings ratio of 135.16, a PEG ratio of 1.97 and a beta of 1.19. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $90.95.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $625.71 million for the quarter, compared to the consensus estimate of $604.69 million. During the same quarter in the previous year, the company earned $0.57 EPS. The company’s revenue for the quarter was up 63.1% on a year-over-year basis. Sell-side analysts forecast that Globus Medical, Inc. will post 2.97 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GMED. Select Equity Group L.P. bought a new stake in Globus Medical in the second quarter worth approximately $91,711,000. Millennium Management LLC increased its stake in shares of Globus Medical by 1,171.5% in the 2nd quarter. Millennium Management LLC now owns 1,363,834 shares of the medical device company’s stock valued at $93,409,000 after acquiring an additional 1,256,570 shares in the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in shares of Globus Medical during the 3rd quarter valued at $43,947,000. Lord Abbett & CO. LLC acquired a new stake in Globus Medical in the third quarter worth $37,948,000. Finally, Parsifal Capital Management LP increased its stake in Globus Medical by 50.5% in the third quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock valued at $96,619,000 after purchasing an additional 453,053 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

GMED has been the subject of several recent analyst reports. StockNews.com downgraded Globus Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Roth Mkm raised their price target on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. 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 research report on Wednesday, November 6th. BTIG Research raised their target price on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a report on Thursday, January 9th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.91.

About Globus Medical

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.