Globus Medical Inc (NYSE:GMED) CAO Steven Payne sold 3,076 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $39.30, for a total transaction of $120,886.80. Following the completion of the sale, the chief accounting officer now directly owns 23,847 shares of the company’s stock, valued at approximately $937,187.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Globus Medical Inc (NYSE GMED) traded down $0.24 during trading hours on Friday, hitting $43.66. 695,300 shares of the company were exchanged, compared to its average volume of 879,089. Globus Medical Inc has a twelve month low of $25.67 and a twelve month high of $46.51. The company has a market cap of $4,210.00, a P/E ratio of 39.69, a PEG ratio of 3.11 and a beta of 0.56.
Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Wednesday, November 8th. The medical device company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. Globus Medical had a net margin of 17.54% and a return on equity of 13.67%. The business had revenue of $151.74 million during the quarter, compared to the consensus estimate of $150.73 million. During the same quarter in the prior year, the firm earned $0.29 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. analysts anticipate that Globus Medical Inc will post 1.27 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its position in Globus Medical by 1.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock worth $100,000 after purchasing an additional 35 shares during the last quarter. Sei Investments Co. grew its position in Globus Medical by 18.9% in the 2nd quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock worth $105,000 after purchasing an additional 503 shares during the last quarter. Advisor Group Inc. grew its position in Globus Medical by 2.0% in the 2nd quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock worth $114,000 after purchasing an additional 68 shares during the last quarter. Turner Investments LLC bought a new position in Globus Medical in the 2nd quarter worth about $166,000. Finally, Cubist Systematic Strategies LLC bought a new position in Globus Medical in the 3rd quarter worth about $177,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.
Several equities research analysts have recently weighed in on GMED shares. Zacks Investment Research raised shares of Globus Medical from a “sell” rating to a “hold” rating in a research report on Thursday, September 14th. BidaskClub downgraded shares of Globus Medical from a “hold” rating to a “sell” rating in a research report on Monday, September 18th. Canaccord Genuity reissued a “buy” rating and issued a $38.00 target price on shares of Globus Medical in a research report on Friday, September 22nd. Needham & Company LLC began coverage on shares of Globus Medical in a research report on Tuesday, September 26th. They set a “hold” rating for the company. Finally, Barclays lowered their price objective on shares of Globus Medical from $28.00 to $27.00 and set an “underweight” rating for the company in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $40.57.
About Globus Medical
Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.
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