Globus Medical, Inc. (NYSE:GMED) Director David D. Davidar sold 55,383 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $40.66, for a total transaction of $2,251,872.78. Following the sale, the director now owns 752,236 shares in the company, valued at $30,585,915.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Globus Medical, Inc. (GMED) traded up $0.11 during mid-day trading on Wednesday, hitting $40.29. 1,058,700 shares of the company were exchanged, compared to its average volume of 689,866. Globus Medical, Inc. has a 12-month low of $22.74 and a 12-month high of $41.70. The stock has a market capitalization of $3,872.39, a price-to-earnings ratio of 32.14, a price-to-earnings-growth ratio of 3.13 and a beta of 0.58.

Globus Medical (NYSE:GMED) last released its earnings results on Wednesday, November 8th. The medical device company reported $0.30 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.30. Globus Medical had a net margin of 17.54% and a return on equity of 13.67%. The firm had revenue of $151.74 million for the quarter, compared to analyst estimates of $150.73 million. During the same period in the prior year, the firm earned $0.29 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. equities analysts predict that Globus Medical, Inc. will post 1.27 earnings per share for the current year.

A number of analysts have issued reports on GMED shares. Canaccord Genuity reiterated a “buy” rating and set a $38.00 price target on shares of Globus Medical in a research note on Friday, September 22nd. BTIG Research initiated coverage on shares of Globus Medical in a research note on Thursday, September 7th. They set a “buy” rating and a $37.00 target price on the stock. Piper Jaffray Companies restated a “buy” rating on shares of Globus Medical in a research note on Thursday, October 19th. ValuEngine upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Finally, BidaskClub upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Globus Medical has a consensus rating of “Hold” and an average price target of $36.83.

Institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted 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 valued at $100,000 after purchasing an additional 35 shares in the last quarter. Sei Investments Co. boosted its holdings in Globus Medical by 18.9% in the second quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock valued at $105,000 after purchasing an additional 503 shares in the last quarter. Advisor Group Inc. boosted 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 valued at $114,000 after purchasing an additional 68 shares in the last quarter. Turner Investments LLC acquired a new position in Globus Medical in the second quarter valued at approximately $166,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Globus Medical in the third quarter valued at approximately $177,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: “Insider Selling: Globus Medical, Inc. (GMED) Director Sells 55,383 Shares of Stock” was first reported by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this piece of content can be read at https://www.americanbankingnews.com/2017/12/06/insider-selling-globus-medical-inc-gmed-director-sells-55383-shares-of-stock.html.

Globus Medical Company Profile

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.

Receive News & Ratings for Globus Medical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.