Insider Selling: Globus Medical, Inc. (NYSE:GMED) SVP Sells 5,000 Shares of Stock

Globus Medical, Inc. (NYSE:GMED - Get Free Report) SVP Kelly Huller sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Globus Medical Price Performance

NYSE GMED traded down $1.09 on Friday, hitting $80.88. 1,804,199 shares of the stock were exchanged, compared to its average volume of 934,414. The business's fifty day moving average is $72.28 and its 200 day moving average is $68.46. Globus Medical, Inc. has a 52 week low of $43.38 and a 52 week high of $84.87. The company has a market capitalization of $10.95 billion, a PE ratio of 120.72, a P/E/G ratio of 2.19 and a beta of 1.17.

Globus Medical (NYSE:GMED - Get Free Report) last issued its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.18. The company had revenue of $625.71 million for the quarter, compared to analysts' expectations of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. Globus Medical's quarterly revenue was up 63.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 EPS. Analysts predict that Globus Medical, Inc. will post 2.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Swedbank AB raised its holdings in Globus Medical by 15.4% in the 2nd quarter. Swedbank AB now owns 375,000 shares of the medical device company's stock valued at $25,684,000 after acquiring an additional 50,000 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Globus Medical by 17.9% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,136,697 shares of the medical device company's stock valued at $77,852,000 after purchasing an additional 172,605 shares during the period. GSA Capital Partners LLP acquired a new position in Globus Medical in the 1st quarter valued at $429,000. State Board of Administration of Florida Retirement System increased its position in Globus Medical by 12.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 85,429 shares of the medical device company's stock worth $4,839,000 after buying an additional 9,754 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Globus Medical during the second quarter worth $611,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GMED has been the subject of a number of research reports. Royal Bank of Canada increased their target price on Globus Medical from $80.00 to $92.00 and gave the stock an "outperform" rating in a report on Wednesday. Bank of America lifted their target price on Globus Medical from $55.00 to $80.00 and gave the company an "underperform" rating in a research report on Wednesday. Morgan Stanley upped their price target on Globus Medical from $67.00 to $71.00 and gave the stock an "equal weight" rating in a research report on Monday, July 15th. Truist Financial lifted their price objective on shares of Globus Medical from $78.00 to $79.00 and gave the company a "hold" rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Globus Medical from $78.00 to $88.00 and gave the stock an "overweight" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Globus Medical presently has an average rating of "Moderate Buy" and an average target price of $87.09.

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.