Globus Medical, Inc. (GMED) Insider A Brett Murphy Sells 15,000 Shares
Globus Medical, Inc. (NYSE:GMED) insider A Brett Murphy sold 15,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $29.99, for a total transaction of $449,850.00. Following the sale, the insider now owns 101,217 shares in the company, valued at approximately $3,035,497.83. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Globus Medical, Inc. (NYSE GMED) traded up 0.37% during trading on Thursday, reaching $30.13. 370,494 shares of the company traded hands. Globus Medical, Inc. has a 52 week low of $19.25 and a 52 week high of $34.03. The company has a market capitalization of $2.90 billion, a P/E ratio of 27.14 and a beta of 0.60. The company’s 50-day moving average price is $30.33 and its 200-day moving average price is $30.58.
Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. Globus Medical had a net margin of 18.12% and a return on equity of 13.99%. The business had revenue of $152.39 million during the quarter, compared to analyst estimates of $150.94 million. During the same period last year, the firm posted $0.29 EPS. The company’s revenue was up 10.8% on a year-over-year basis. Equities research analysts forecast that Globus Medical, Inc. will post $1.27 EPS for the current fiscal year.
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Several analysts recently issued reports on the stock. Gabelli reiterated a “buy” rating on shares of Globus Medical in a research report on Friday, August 4th. Barclays PLC reissued an “underweight” rating and issued a $28.00 price objective (down previously from $30.00) on shares of Globus Medical in a research note on Wednesday, August 9th. BTIG Research assumed coverage on shares of Globus Medical in a research note on Thursday. They set a “buy” rating and a $37.00 price target for the company. Zacks Investment Research downgraded shares of Globus Medical from a “hold” rating to a “sell” rating in a research note on Monday. Finally, BidaskClub raised shares of Globus Medical from a “strong sell” rating to a “sell” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $31.25.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Globus Medical by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,538 shares of the medical device company’s stock worth $349,000 after buying an additional 31 shares during the period. PNC Financial Services Group Inc. raised its holdings in Globus Medical by 1.2% in the second 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 in the last quarter. Alps Advisors Inc. raised its holdings in Globus Medical by 0.3% in the second quarter. Alps Advisors Inc. now owns 17,464 shares of the medical device company’s stock worth $579,000 after purchasing an additional 45 shares in the last quarter. Advisor Group Inc. raised its holdings in Globus Medical by 2.0% in the second 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 in the last quarter. Finally, 1st Global Advisors Inc. raised its holdings in Globus Medical by 1.2% in the second quarter. 1st Global Advisors Inc. now owns 11,308 shares of the medical device company’s stock worth $375,000 after purchasing an additional 130 shares in the last quarter. 65.80% of the stock is owned by institutional investors.
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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