Globus Medical, Inc. (NYSE:GMED) Director Ann D. Rhoads Sells 15,000 Shares

Globus Medical, Inc. (NYSE:GMED) Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $70.36, for a total value of $1,055,400.00. Following the transaction, the director now owns 42,884 shares of the company’s stock, valued at $3,017,318.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Globus Medical Price Performance

Shares of GMED stock opened at $69.33 on Wednesday. The business has a 50-day moving average of $70.89 and a 200 day moving average of $63.27. Globus Medical, Inc. has a 1-year low of $43.38 and a 1-year high of $74.21. The stock has a market capitalization of $9.39 billion, a PE ratio of 108.33, a P/E/G ratio of 1.91 and a beta of 1.17.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.07. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. The firm had revenue of $629.69 million during the quarter, compared to the consensus estimate of $615.33 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The business’s revenue was up 115.9% on a year-over-year basis. Analysts anticipate that Globus Medical, Inc. will post 2.84 EPS for the current year.

Institutional Investors Weigh In On Globus Medical

A number of large investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in shares of Globus Medical in the second quarter worth about $611,000. Creative Planning lifted its holdings in Globus Medical by 16.8% in the 2nd quarter. Creative Planning now owns 6,157 shares of the medical device company’s stock worth $422,000 after buying an additional 886 shares during the period. MidWestOne Financial Group Inc. bought a new stake in shares of Globus Medical in the 2nd quarter worth approximately $246,000. Select Equity Group L.P. purchased a new position in shares of Globus Medical during the second quarter valued at approximately $91,711,000. Finally, Lighthouse Investment Partners LLC raised its holdings in shares of Globus Medical by 153.6% during the second quarter. Lighthouse Investment Partners LLC now owns 118,623 shares of the medical device company’s stock valued at $8,124,000 after acquiring an additional 71,841 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GMED shares. BTIG Research raised their target price on shares of Globus Medical from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Morgan Stanley raised their price objective 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. Barclays lifted their price objective on shares of Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Truist Financial raised their price target on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada upped their price objective on Globus Medical from $76.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.20.

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.