Globus Medical, Inc. (NYSE:GMED) CFO Sells $1,250,804.43 in Stock

Globus Medical, Inc. (NYSE:GMED) CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Globus Medical Price Performance

Shares of GMED traded up $0.82 during trading hours on Tuesday, hitting $88.00. 1,022,911 shares of the company were exchanged, compared to its average volume of 1,291,451. The firm has a fifty day simple moving average of $83.30 and a 200-day simple moving average of $75.39. The company has a market capitalization of $11.98 billion, a PE ratio of 131.34, a PEG ratio of 1.97 and a beta of 1.19. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $90.48.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. The business had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The firm’s revenue for the quarter was up 63.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share. Sell-side analysts expect that Globus Medical, Inc. will post 2.97 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GMED. V Square Quantitative Management LLC bought a new stake in shares of Globus Medical in the 3rd quarter valued at $27,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Globus Medical in the second quarter worth $33,000. Quarry LP increased its stake in Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after acquiring an additional 433 shares during the last quarter. Farther Finance Advisors LLC grew its position in Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after acquiring an additional 385 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Globus Medical by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 888 shares of the medical device company’s stock valued at $64,000 after buying an additional 257 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GMED has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their target price on Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Stifel Nicolaus lifted their target price on shares of Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada lifted their target price on Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Finally, BTIG Research boosted their price objective on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.91.

About Globus Medical

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.