Insider Selling: Globus Medical, Inc. (GMED) Director Sells 55,383 Shares of Stock
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.
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.
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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.
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