Globus Medical, Inc. (NYSE:GMED) SVP Sells $217,500.00 in Stock

Globus Medical, Inc. (NYSE:GMED) SVP Kelly Huller sold 2,500 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Kelly Huller also recently made the following trade(s):

• On Wednesday, November 6th, Kelly Huller sold 5,000 shares of Globus Medical stock. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00.

Globus Medical Stock Performance

GMED opened at $83.32 on Friday. The stock has a fifty day moving average of $77.59 and a 200-day moving average of $72.20. Globus Medical, Inc. has a fifty-two week low of $44.02 and a fifty-two week high of $87.22. The company has a market capitalization of $11.35 billion, a P/E ratio of 124.36, a P/E/G ratio of 2.04 and a beta of 1.19.

Globus Medical (NYSE:GMED) last announced its 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 analyst estimates of $604.69 million. During the same quarter in the prior year, the business posted $0.57 EPS. The business’s revenue was up 63.1% compared to the same quarter last year. On average, equities research analysts predict that Globus Medical, Inc. will post 2.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Globus Medical

Large investors have recently bought and sold shares of the company. Franklin Resources Inc. bought a new position in Globus Medical in the third quarter valued at approximately $3,833,000. Synovus Financial Corp lifted its position in shares of Globus Medical by 9.8% during the 3rd quarter. Synovus Financial Corp now owns 14,311 shares of the medical device company’s stock worth $1,024,000 after buying an additional 1,281 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in Globus Medical by 11.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 14,470 shares of the medical device company’s stock valued at $1,035,000 after buying an additional 1,470 shares in the last quarter. Sanctuary Advisors LLC grew its position in Globus Medical by 33.9% in the third quarter. Sanctuary Advisors LLC now owns 11,945 shares of the medical device company’s stock valued at $855,000 after acquiring an additional 3,022 shares during the last quarter. Finally, TT International Asset Management LTD acquired a new position in Globus Medical during the third quarter worth about $3,169,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GMED. BTIG Research increased their price target on Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a report on Wednesday, November 6th. Canaccord Genuity Group increased their price target on shares of Globus Medical from $79.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada boosted their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Piper Sandler lifted their price target on Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.73.

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.