David D. Davidar Sells 30,000 Shares of Globus Medical, Inc. (NYSE:GMED) Stock

Globus Medical, Inc. (NYSE:GMED - Get Free Report) Director David D. Davidar sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total value of $2,251,200.00. Following the transaction, the director now directly owns 536,275 shares in the company, valued at $40,242,076. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Globus Medical Price Performance

NYSE:GMED traded down $1.10 during mid-day trading on Friday, reaching $72.82. The stock had a trading volume of 1,112,080 shares, compared to its average volume of 1,004,875. The stock has a 50-day simple moving average of $70.71 and a two-hundred day simple moving average of $65.85. Globus Medical, Inc. has a 12 month low of $43.38 and a 12 month high of $75.98. The stock has a market capitalization of $9.86 billion, a PE ratio of 113.83, a P/E/G ratio of 1.94 and a beta of 1.17.

Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The medical device company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.07. The company had revenue of $629.69 million during the quarter, compared to analysts' expectations of $615.33 million. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. Globus Medical's revenue was up 115.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 EPS. Equities analysts expect that Globus Medical, Inc. will post 2.84 EPS for the current year.

Institutional Investors Weigh In On Globus Medical

A number of hedge funds have recently made changes to their positions in GMED. V Square Quantitative Management LLC bought a new stake in Globus Medical during the 3rd quarter worth $27,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Globus Medical in the second quarter valued at approximately $33,000. GAMMA Investing LLC raised its holdings in Globus Medical by 254.5% in the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company's stock valued at $43,000 after buying an additional 453 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Globus Medical during the 2nd quarter worth approximately $52,000. Finally, Nisa Investment Advisors LLC boosted its position in Globus Medical by 15.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company's stock worth $80,000 after buying an additional 160 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GMED has been the topic of several research reports. Morgan Stanley upped their price objective on shares of Globus Medical from $67.00 to $71.00 and gave the company an "equal weight" rating in a report on Monday, July 15th. Barclays lifted their price target on Globus Medical from $85.00 to $93.00 and gave the stock an "overweight" rating in a report on Thursday, August 8th. BTIG Research upped their price objective on Globus Medical from $77.00 to $78.00 and gave the company a "buy" rating in a report on Monday. Wells Fargo & Company raised Globus Medical from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $60.00 to $78.00 in a report on Wednesday, August 7th. Finally, Royal Bank of Canada boosted their target price on shares of Globus Medical from $78.00 to $80.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Globus Medical currently has an average rating of "Moderate Buy" and an average target price of $77.50.

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.

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