Ann D. Rhoads Sells 15,000 Shares of Globus Medical, Inc. (NYSE:GMED) Stock

Globus Medical, Inc. (NYSE:GMED) Director Ann D. Rhoads sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the transaction, the director now owns 42,884 shares in the company, valued at $3,017,318.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Globus Medical Stock Performance

GMED opened at $69.58 on Thursday. Globus Medical, Inc. has a twelve month low of $43.38 and a twelve month high of $74.21. The firm has a market cap of $9.42 billion, a PE ratio of 108.72, a price-to-earnings-growth ratio of 1.91 and a beta of 1.17. The firm’s fifty day moving average is $70.89 and its two-hundred day moving average is $63.32.

Globus Medical (NYSE:GMED) last posted its earnings results on Tuesday, August 6th. The medical device company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.07. The firm had revenue of $629.69 million for the quarter, compared to analyst estimates of $615.33 million. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. The company’s revenue for the quarter was up 115.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. Equities analysts forecast that Globus Medical, Inc. will post 2.84 EPS for the current fiscal year.

Institutional Trading of Globus Medical

Hedge funds have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. increased its position in shares of Globus Medical by 3.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,094 shares of the medical device company’s stock worth $378,000 after acquiring an additional 244 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Globus Medical by 17.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,009 shares of the medical device company’s stock worth $624,000 after purchasing an additional 1,825 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Globus Medical by 109.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 14,793 shares of the medical device company’s stock valued at $788,000 after purchasing an additional 7,737 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Globus Medical by 221.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,075 shares of the medical device company’s stock worth $1,496,000 after buying an additional 19,346 shares during the period. Finally, Norges Bank bought a new position in shares of Globus Medical during the fourth quarter worth about $95,537,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on GMED shares. Royal Bank of Canada upped their price objective on Globus Medical from $76.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Barclays upped their price target on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 7th. BTIG Research boosted their price objective on Globus Medical from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley raised their target price on shares of Globus Medical from $67.00 to $71.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and an average price target of $77.20.

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.