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 company’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Globus Medical Price Performance

Shares of GMED opened at $90.41 on Friday. The company has a market cap of $12.31 billion, a PE ratio of 134.94, a price-to-earnings-growth ratio of 1.80 and a beta of 1.19. The firm has a 50-day moving average of $83.71 and a 200-day moving average of $75.64. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $91.44.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. The business had revenue of $625.71 million during the quarter, compared to analysts’ expectations of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. Globus Medical’s quarterly revenue was up 63.1% on a year-over-year basis. During the same quarter last year, the company posted $0.57 earnings per share. Analysts expect that Globus Medical, Inc. will post 2.98 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Roth Mkm increased their target price on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Royal Bank of Canada upped their price target on Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lifted their price objective on shares of Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Piper Sandler increased their target price on shares of Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.91.

Institutional Investors Weigh In On Globus Medical

A number of large investors have recently added to or reduced their stakes in GMED. Select Equity Group L.P. acquired a new position in shares of Globus Medical in the second quarter valued at $91,711,000. Millennium Management LLC boosted its holdings in shares of Globus Medical by 1,171.5% during the 2nd quarter. Millennium Management LLC now owns 1,363,834 shares of the medical device company’s stock worth $93,409,000 after buying an additional 1,256,570 shares during the period. ArrowMark Colorado Holdings LLC bought a new stake in shares of Globus Medical during the 3rd quarter worth about $43,947,000. Lord Abbett & CO. LLC acquired a new position in Globus Medical in the 3rd quarter valued at about $37,948,000. Finally, Parsifal Capital Management LP raised its holdings in Globus Medical by 50.5% in the 3rd quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock valued at $96,619,000 after acquiring an additional 453,053 shares during the period. Institutional investors 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.