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Keith W. Pfeil Sells 14,167 Shares of Globus Medical, Inc. (NYSE:GMED) Stock

Globus Medical logo with Medical background

Globus Medical, Inc. (NYSE:GMED - Get Free Report) CFO Keith W. Pfeil sold 14,167 shares of the business's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Globus Medical Price Performance

Shares of GMED traded up $0.82 during mid-day trading on Tuesday, reaching $88.00. 1,022,956 shares of the company's stock were exchanged, compared to its average volume of 1,309,982. The business's fifty day simple moving average is $83.55 and its 200-day simple moving average is $75.53. Globus Medical, Inc. has a 52-week low of $49.33 and a 52-week high of $90.48. The stock has a market capitalization of $11.98 billion, a PE ratio of 131.34, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19.

Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly 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 return on equity of 9.98% and a net margin of 3.69%. The firm had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. During the same quarter last year, the company posted $0.57 earnings per share. The business's revenue was up 63.1% on a year-over-year basis. Equities research analysts predict that Globus Medical, Inc. will post 2.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GMED shares. Truist Financial upped their price objective on shares of Globus Medical from $85.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, December 18th. Stifel Nicolaus upped their price target on Globus Medical from $80.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research report on Thursday, January 9th. Wells Fargo & Company upped their target price on Globus Medical from $88.00 to $95.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada raised their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Globus Medical presently has a consensus rating of "Moderate Buy" and an average target price of $96.91.

Check Out Our Latest Stock Analysis on GMED

Hedge Funds Weigh In On Globus Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC purchased a new position in shares of Globus Medical in the 2nd quarter valued at about $33,000. Choreo LLC purchased a new position in Globus Medical in the second quarter valued at about $517,000. American Century Companies Inc. lifted its position in shares of Globus Medical by 5.7% during the 2nd quarter. American Century Companies Inc. now owns 26,625 shares of the medical device company's stock valued at $1,824,000 after acquiring an additional 1,442 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Globus Medical by 13.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 25,110 shares of the medical device company's stock valued at $1,720,000 after acquiring an additional 3,059 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Globus Medical by 5.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 266,207 shares of the medical device company's stock worth $18,232,000 after acquiring an additional 13,221 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

About Globus Medical

(Get Free Report)

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.

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