Daniel T. Scavilla Sells 60,000 Shares of Globus Medical, Inc. (NYSE:GMED) Stock

Globus Medical, Inc. (NYSE:GMED) CEO Daniel T. Scavilla sold 60,000 shares of Globus Medical stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total value of $4,801,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $80.88 on Friday. The firm has a market cap of $10.95 billion, a price-to-earnings ratio of 120.72, a price-to-earnings-growth ratio of 2.19 and a beta of 1.17. The stock’s 50-day moving average is $72.28 and its 200-day moving average is $68.46. Globus Medical, Inc. has a one year low of $43.38 and a one year high of $84.87.

Globus Medical (NYSE:GMED) last released its earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.65 by $0.18. The firm had revenue of $625.71 million for the quarter, compared to analysts’ expectations of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The business’s quarterly revenue was up 63.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. On average, equities analysts expect that Globus Medical, Inc. will post 2.97 EPS for the current year.

Analysts Set New Price Targets

GMED has been the topic of several recent analyst reports. Barclays lifted their price objective on shares of Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Piper Sandler lifted their price target on shares of Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday. Roth Mkm restated a “buy” rating and issued a $100.00 price objective on shares of Globus Medical in a research report on Wednesday. Wells Fargo & Company raised their price objective on Globus Medical from $78.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Bank of America boosted their target price on Globus Medical from $55.00 to $80.00 and gave the company an “underperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.09.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new stake in Globus Medical during the 3rd quarter worth about $27,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Globus Medical in the 2nd quarter valued at about $33,000. Farther Finance Advisors LLC increased its position in shares of Globus Medical by 230.5% in 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. GAMMA Investing LLC raised its holdings in Globus Medical by 254.5% during the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after acquiring an additional 453 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Globus Medical during the second quarter valued at approximately $52,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Company Profile

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.