Globus Medical, Inc. (NYSE:GMED) CFO Keith W. Pfeil Sells 14,167 Shares

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

Globus Medical Stock Up 0.9 %

Shares of GMED traded up $0.82 during trading hours on Tuesday, reaching $88.00. 1,022,911 shares of the company traded hands, compared to its average volume of 1,291,451. The business has a fifty day moving average price of $83.30 and a 200-day moving average price of $75.39. Globus Medical, Inc. has a 12-month low of $49.33 and a 12-month high of $90.48. The stock has a market capitalization of $11.98 billion, a P/E ratio of 131.34, a P/E/G ratio of 1.97 and a beta of 1.19.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.18. The company had revenue of $625.71 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $0.57 EPS. As a group, research analysts predict that Globus Medical, Inc. will post 2.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Park Avenue Securities LLC boosted its position in Globus Medical by 26.4% during the fourth quarter. Park Avenue Securities LLC now owns 7,405 shares of the medical device company’s stock worth $612,000 after acquiring an additional 1,546 shares during the last quarter. Kathmere Capital Management LLC purchased a new position in Globus Medical in the 4th quarter worth approximately $23,091,000. Assenagon Asset Management S.A. boosted its holdings in shares of Globus Medical by 77.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 95,898 shares of the medical device company’s stock worth $7,932,000 after purchasing an additional 41,875 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of Globus Medical in the fourth quarter valued at approximately $376,000. Finally, Everence Capital Management Inc. purchased a new stake in shares of Globus Medical in the fourth quarter valued at approximately $204,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a report on Thursday, January 9th. Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. Piper Sandler boosted their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. BTIG Research raised their target price on shares of Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Wells Fargo & Company increased their price objective on Globus Medical from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company 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.