Globus Medical, Inc. (NYSE:GMED) SVP Kelly Huller Sells 2,500 Shares

Globus Medical, Inc. (NYSE:GMEDGet Rating) SVP Kelly Huller sold 2,500 shares of the firm’s stock in a transaction dated Friday, April 8th. The stock was sold at an average price of $75.58, for a total value of $188,950.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

GMED stock opened at $74.75 on Tuesday. The company’s 50 day moving average price is $70.11 and its 200 day moving average price is $71.46. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 52.27, a PEG ratio of 3.44 and a beta of 1.10. Globus Medical, Inc. has a fifty-two week low of $62.39 and a fifty-two week high of $84.23.

Globus Medical (NYSE:GMEDGet Rating) last posted its quarterly earnings results on Thursday, February 17th. The medical device company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. Globus Medical had a net margin of 15.57% and a return on equity of 12.69%. The company had revenue of $250.02 million during the quarter, compared to analysts’ expectations of $243.93 million. During the same quarter in the previous year, the business posted $0.58 EPS. As a group, sell-side analysts forecast that Globus Medical, Inc. will post 2.11 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of GMED. Marathon Asset Mgmt Ltd purchased a new stake in Globus Medical during the 3rd quarter worth about $104,267,000. Nordea Investment Management AB raised its position in shares of Globus Medical by 106.1% during the 3rd quarter. Nordea Investment Management AB now owns 1,420,164 shares of the medical device company’s stock worth $112,946,000 after acquiring an additional 731,127 shares in the last quarter. Norges Bank purchased a new stake in Globus Medical during the fourth quarter worth approximately $48,498,000. Panagora Asset Management Inc. acquired a new position in Globus Medical in the fourth quarter valued at approximately $21,817,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in Globus Medical in the third quarter valued at approximately $21,860,000. Institutional investors own 65.34% of the company’s stock.

GMED has been the subject of a number of recent analyst reports. Morgan Stanley cut their price objective on Globus Medical from $82.00 to $74.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 22nd. Bank of America raised Globus Medical from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $80.00 in a research report on Monday, December 13th. Piper Sandler raised Globus Medical from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $80.00 to $88.00 in a research report on Tuesday, January 4th. Credit Suisse Group cut their price objective on Globus Medical from $95.00 to $91.00 and set an “outperform” rating for the company in a research report on Friday, February 18th. Finally, Wells Fargo & Company started coverage on Globus Medical in a research report on Monday, March 28th. They issued an “overweight” rating and a $80.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $84.29.

About Globus Medical (Get Rating)

Globus Medical, Inc operates as a medical device company that develops and commercializes healthcare solutions. The firm engages in developing products that promote healing in patients with musculoskeletal disorders. It classifies products into Innovative Fusion and Disruptive Technology. It operates through the United States and International geographical segments.

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