Key Points
- EVP Kelly Huller sold 10,000 shares of Globus Medical on Feb. 12 at an average price of $87.67 for proceeds of $876,700, and previously sold 7,500 shares on Nov. 25 at $90 ($675,000).
- Analysts have a consensus rating of "Moderate Buy" for Globus Medical with an average price target of $100.18; the stock has a market cap of $11.91 billion and a 12‑month range of $51.79–$101.40.
- Institutional ownership is very high at 95.16%, with recent large inflows including Bank of Montreal adding ~3.35 million shares and Burgundy Asset Management boosting its stake by 24.3%.
Globus Medical, Inc. (NYSE:GMED - Get Free Report) EVP Kelly Huller sold 10,000 shares of the business's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $87.67, for a total value of $876,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Kelly Huller also recently made the following trade(s):
- On Tuesday, November 25th, Kelly Huller sold 7,500 shares of Globus Medical stock. The shares were sold at an average price of $90.00, for a total value of $675,000.00.
Globus Medical Stock Up 1.0%
Globus Medical stock opened at $89.01 on Wednesday. The stock has a market cap of $11.91 billion, a PE ratio of 28.71, a P/E/G ratio of 1.35 and a beta of 1.06. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $101.40. The business's 50-day moving average price is $89.68 and its two-hundred day moving average price is $74.55.
Analysts Set New Price Targets
Several analysts recently weighed in on the stock. Wall Street Zen raised shares of Globus Medical from a "buy" rating to a "strong-buy" rating in a research note on Saturday, January 3rd. Royal Bank Of Canada upped their price target on Globus Medical from $92.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, December 17th. BTIG Research restated a "neutral" rating on shares of Globus Medical in a research report on Tuesday, December 30th. Zacks Research lowered Globus Medical from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 9th. Finally, Wells Fargo & Company upped their target price on Globus Medical from $66.00 to $79.00 and gave the company an "overweight" rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Globus Medical currently has an average rating of "Moderate Buy" and an average price target of $100.18.
Get Our Latest Stock Report on Globus Medical
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in GMED. Burgundy Asset Management Ltd. boosted its stake in Globus Medical by 24.3% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 3,481,438 shares of the medical device company's stock valued at $205,474,000 after purchasing an additional 679,691 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Globus Medical by 15,317.1% in the fourth quarter. Bank of Montreal Can now owns 3,373,260 shares of the medical device company's stock valued at $294,519,000 after purchasing an additional 3,351,380 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of Globus Medical by 17.2% during the third quarter. William Blair Investment Management LLC now owns 2,819,165 shares of the medical device company's stock valued at $161,454,000 after buying an additional 414,134 shares during the last quarter. Sculptor Capital LP grew its holdings in Globus Medical by 31.9% during the second quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company's stock worth $162,936,000 after buying an additional 667,850 shares in the last quarter. Finally, Geneva Capital Management LLC grew its holdings in Globus Medical by 13.6% during the second quarter. Geneva Capital Management LLC now owns 2,082,788 shares of the medical device company's stock worth $122,926,000 after buying an additional 249,141 shares in the last quarter. 95.16% of the stock is owned by institutional investors.
About Globus Medical
(
Get Free Report)
Globus Medical, Inc (NYSE:GMED) is a leading medical device company specializing in musculoskeletal solutions for spine and orthopaedic applications. Founded in 2003 by David C. Paul and headquartered in Audubon, Pennsylvania, the company develops, manufactures and markets implantable devices and surgical instruments designed to treat spinal disorders and promote bone healing. Its product portfolio encompasses solutions for minimally invasive and open surgical procedures, including interbody fusion devices, pedicle screw systems, and biologics used to enhance fusion outcomes.
In addition to its core spine business, Globus Medical has expanded into robotics and navigation systems to support precision and efficiency in the operating room.
Further Reading
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