Globus Medical (NYSE:GMED) Shares Down 6.2% - What's Next?

Globus Medical, Inc. (NYSE:GMED - Get Free Report) shares traded down 6.2% on Thursday . The stock traded as low as $85.20 and last traded at $86.71. 584,637 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 1,176,517 shares. The stock had previously closed at $92.40.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GMED shares. Roth Mkm upped their price target on Globus Medical from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, December 17th. Morgan Stanley raised shares of Globus Medical from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $83.00 to $100.00 in a research report on Monday, December 2nd. Wells Fargo & Company increased their price objective on shares of Globus Medical from $88.00 to $95.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Royal Bank of Canada upped their price target 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. Finally, Canaccord Genuity Group increased their price target on Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $96.91.

Globus Medical Stock Performance

The firm has a fifty day simple moving average of $86.56 and a 200-day simple moving average of $78.20. The company has a market capitalization of $11.90 billion, a PE ratio of 130.46, a P/E/G ratio of 1.68 and a beta of 1.19.

Insider Buying and Selling

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total transaction of $217,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of the firm'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 disclosure for this sale can be found here. Insiders own 18.54% of the company's stock.

Institutional Investors Weigh In On Globus Medical

Several institutional investors and hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in shares of Globus Medical during the third quarter valued at approximately $27,000. SBI Securities Co. Ltd. acquired a new position in shares of Globus Medical during the fourth quarter valued at $27,000. Quarry LP grew its position in Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company's stock worth $35,000 after purchasing an additional 433 shares during the last quarter. Farther Finance Advisors LLC increased its position in Globus Medical by 230.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company's stock valued at $39,000 after acquiring an additional 385 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock valued at $45,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

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.