Globus Medical Inc (GMED) CAO Sells $120,886.80 in Stock

Globus Medical Inc (NYSE:GMED) CAO Steven Payne sold 3,076 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $39.30, for a total transaction of $120,886.80. Following the transaction, the chief accounting officer now owns 23,847 shares of the company’s stock, valued at approximately $937,187.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Globus Medical Inc (NYSE GMED) traded up $0.93 during mid-day trading on Thursday, hitting $40.10. 420,200 shares of the stock were exchanged, compared to its average volume of 685,663. Globus Medical Inc has a one year low of $23.99 and a one year high of $41.70. The company has a market capitalization of $3,775.05, a price-to-earnings ratio of 31.34, a P/E/G ratio of 2.97 and a beta of 0.58.

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

A number of equities analysts have weighed in on the stock. BTIG Research assumed coverage on shares of Globus Medical in a research report on Thursday, September 7th. They set a “buy” rating and a $37.00 target price for the company. Needham & Company LLC assumed coverage on shares of Globus Medical in a research report on Tuesday, September 26th. They issued a “hold” rating for the company. Canaccord Genuity restated a “buy” rating and issued a $38.00 price objective on shares of Globus Medical in a research report on Friday, September 22nd. BidaskClub lowered shares of Globus Medical from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 26th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of Globus Medical in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. Globus Medical currently has a consensus rating of “Hold” and an average target price of $36.83.

Institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake 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. raised its stake in shares of Globus Medical by 18.9% during the second 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 in the last quarter. Advisor Group Inc. raised its stake in shares of Globus Medical by 2.0% during the second 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 in the last quarter. Turner Investments LLC purchased a new position in shares of Globus Medical during the second quarter worth approximately $166,000. Finally, Victory Capital Management Inc. raised its stake in shares of Globus Medical by 17.6% during the second quarter. Victory Capital Management Inc. now owns 5,398 shares of the medical device company’s stock worth $179,000 after acquiring an additional 808 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

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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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