Globus Medical Inc (NYSE:GMED) Director David D. Davidar sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.33, for a total value of $2,466,500.00. Following the completion of the transaction, the director now owns 754,775 shares in the company, valued at approximately $37,233,050.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

NYSE:GMED opened at $51.04 on Thursday. The stock has a market capitalization of $4.93 billion, a PE ratio of 30.56, a price-to-earnings-growth ratio of 2.42 and a beta of 0.89. The firm’s 50 day moving average is $45.31 and its 200 day moving average is $44.84. Globus Medical Inc has a 12 month low of $38.01 and a 12 month high of $57.83.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Thursday, August 1st. The medical device company reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $150.55 million for the quarter, compared to analysts’ expectations of $184.93 million. Globus Medical had a net margin of 19.30% and a return on equity of 13.29%. Globus Medical’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS. As a group, sell-side analysts anticipate that Globus Medical Inc will post 1.71 EPS for the current year.

Several large investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in shares of Globus Medical by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 807,842 shares of the medical device company’s stock worth $34,963,000 after purchasing an additional 39,789 shares in the last quarter. Pennsylvania Trust Co bought a new position in shares of Globus Medical in the 1st quarter valued at approximately $344,000. Brinker Capital Inc. raised its stake in shares of Globus Medical by 73.0% in the 1st quarter. Brinker Capital Inc. now owns 9,392 shares of the medical device company’s stock valued at $464,000 after acquiring an additional 3,963 shares in the last quarter. Virginia Retirement Systems ET AL raised its stake in shares of Globus Medical by 9.0% in the 1st quarter. Virginia Retirement Systems ET AL now owns 39,900 shares of the medical device company’s stock valued at $1,971,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Globus Medical by 8.6% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 85,352 shares of the medical device company’s stock valued at $4,217,000 after acquiring an additional 6,730 shares in the last quarter. 70.40% of the stock is currently owned by institutional investors.

A number of equities analysts have recently weighed in on the company. Morgan Stanley set a $45.00 target price on Globus Medical and gave the stock a “hold” rating in a research note on Wednesday, June 5th. Wells Fargo & Co downgraded Globus Medical from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $50.00 to $41.00 in a research note on Friday, May 24th. Zacks Investment Research upgraded Globus Medical from a “sell” rating to a “hold” rating and set a $54.00 target price on the stock in a research note on Tuesday, August 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $56.00 target price (up previously from $52.00) on shares of Globus Medical in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Globus Medical currently has a consensus rating of “Buy” and a consensus target price of $55.20.

Globus Medical Company Profile

Globus Medical, Inc, a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address a variety of musculoskeletal pathologies, anatomies, and surgical approaches.

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Insider Buying and Selling by Quarter for Globus Medical (NYSE:GMED)

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