Globus Medical, Inc. (NYSE:GMED) SVP Kelly Huller Sells 2,500 Shares

Globus Medical, Inc. (NYSE:GMED) SVP Kelly Huller sold 2,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Kelly Huller also recently made the following trade(s):

• On Wednesday, November 6th, Kelly Huller sold 5,000 shares of Globus Medical stock. The stock was sold at an average price of $81.01, for a total value of $405,050.00.

Globus Medical Stock Down 1.1 %

GMED traded down $0.90 on Wednesday, hitting $84.20. The company had a trading volume of 426,546 shares, compared to its average volume of 1,001,132. The company has a market cap of $11.47 billion, a PE ratio of 127.01, a PEG ratio of 2.00 and a beta of 1.19. Globus Medical, Inc. has a 12-month low of $44.02 and a 12-month high of $87.22. The business’s fifty day simple moving average is $76.80 and its 200 day simple moving average is $71.92.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The business had revenue of $625.71 million during the quarter, compared to analyst estimates of $604.69 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. The company’s revenue for the quarter was up 63.1% compared to the same quarter last year. On average, analysts anticipate that Globus Medical, Inc. will post 2.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GMED has been the subject of several analyst reports. Stifel Nicolaus increased their target price on Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $83.00 to $100.00 in a report on Monday. Barclays increased their target price on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Bank of America increased their target price on Globus Medical from $55.00 to $80.00 and gave the company an “underperform” rating in a report on Wednesday, November 6th. Finally, Truist Financial increased their target price on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.73.

Institutional Trading of Globus Medical

Large investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Globus Medical in the third quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC bought a new position in Globus Medical in the second quarter worth approximately $33,000. Quarry LP raised its stake in Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after buying an additional 433 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Globus Medical by 230.5% in the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after buying an additional 385 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Globus Medical by 254.5% in the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after buying an additional 453 shares in the last quarter. Hedge funds and other institutional investors 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.