Globus Medical Inc (NYSE:GMED) Director Sells $2,466,500.00 in Stock
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.
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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