Globus Medical, Inc. (NYSE:GMED) SVP Sells $217,500.00 in Stock

Globus Medical, Inc. (NYSE:GMED) SVP Kelly Huller sold 2,500 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total value of $217,500.00. The transaction was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $81.01, for a total value of $405,050.00.

Globus Medical Stock Performance

Globus Medical stock traded down $0.90 during mid-day trading on Wednesday, reaching $84.20. The stock had a trading volume of 426,546 shares, compared to its average volume of 1,001,132. The firm has a market capitalization of $11.47 billion, a PE ratio of 127.01, a price-to-earnings-growth ratio of 2.00 and a beta of 1.19. Globus Medical, Inc. has a fifty-two week low of $44.02 and a fifty-two week high of $87.22. The stock’s 50-day simple moving average is $76.80 and its 200-day simple moving average is $71.92.

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

Institutional Trading of Globus Medical

Several hedge funds have recently made changes to their positions in GMED. V Square Quantitative Management LLC bought a new stake in shares of Globus Medical in the third quarter valued at $27,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Globus Medical during the 2nd quarter valued at $33,000. Quarry LP raised its stake in shares of Globus Medical by 698.4% during the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after purchasing an additional 433 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after purchasing an additional 385 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Globus Medical by 254.5% during the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 453 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GMED. StockNews.com downgraded Globus Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. BTIG Research upped their price objective on Globus Medical from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Roth Mkm restated a “buy” rating and set a $100.00 price objective on shares of Globus Medical in a research report on Wednesday, November 6th. Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $83.00 to $100.00 in a research report on Monday. Finally, Barclays upped their price objective on Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Globus Medical presently has an average rating of “Moderate Buy” and an average price target of $89.73.

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.