Globus Medical, Inc. (NYSE:GMED) insider A Brett Murphy sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $29.99, for a total transaction of $449,850.00. Following the completion of the sale, the insider now directly owns 101,217 shares in the company, valued at approximately $3,035,497.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Globus Medical, Inc. (NYSE:GMED) traded up 0.90% during trading on Friday, reaching $30.40. 566,288 shares of the company traded hands. The company’s 50-day moving average price is $30.27 and its 200-day moving average price is $30.58. The company has a market capitalization of $2.93 billion, a P/E ratio of 27.39 and a beta of 0.60. Globus Medical, Inc. has a 52 week low of $19.25 and a 52 week high of $34.03.

Globus Medical (NYSE:GMED) last released its earnings results on Wednesday, August 2nd. The medical device company reported $0.32 EPS for the quarter, topping 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 company had revenue of $152.39 million for the quarter, compared to analysts’ expectations of $150.94 million. During the same quarter last year, the business earned $0.29 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. Equities research analysts forecast that Globus Medical, Inc. will post $1.27 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in Globus Medical by 1.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock worth $100,000 after acquiring an additional 35 shares during the period. Sei Investments Co. raised its stake in Globus Medical by 18.9% during the 2nd quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock worth $105,000 after acquiring an additional 503 shares during the period. Elkfork Partners LLC bought a new stake in Globus Medical during the 1st quarter worth approximately $114,000. Advisor Group Inc. raised its stake in Globus Medical by 2.0% during the 2nd quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock worth $114,000 after acquiring an additional 68 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Globus Medical by 22.1% during the 1st quarter. Victory Capital Management Inc. now owns 4,590 shares of the medical device company’s stock worth $136,000 after acquiring an additional 830 shares during the period. Institutional investors own 65.80% of the company’s stock.

GMED has been the topic of several research reports. BidaskClub lowered shares of Globus Medical from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 26th. Zacks Investment Research raised shares of Globus Medical from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Canaccord Genuity reaffirmed a “buy” rating and set a $37.00 price objective on shares of Globus Medical in a research note on Friday, August 18th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Globus Medical in a research note on Wednesday, August 30th. Finally, BTIG Research started coverage on shares of Globus Medical in a research note on Thursday. They set a “buy” rating and a $37.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $31.25.

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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