Leslie V. Norwalk Sells 10,590 Shares of Globus Medical, Inc. (NYSE:GMED) Stock

Globus Medical, Inc. (NYSE:GMEDGet Free Report) Director Leslie V. Norwalk sold 10,590 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $51.99, for a total transaction of $550,574.10. Following the sale, the director now owns 17,419 shares in the company, valued at $905,613.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Globus Medical Trading Down 0.3 %

NYSE GMED opened at $51.83 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.88 and a quick ratio of 2.72. The firm’s fifty day moving average price is $54.06 and its 200 day moving average price is $51.20. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 44.30, a price-to-earnings-growth ratio of 1.52 and a beta of 1.09. Globus Medical, Inc. has a 12 month low of $43.38 and a 12 month high of $62.88.

Globus Medical (NYSE:GMEDGet Free Report) last posted its earnings results on Tuesday, February 20th. The medical device company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The firm had revenue of $616.53 million for the quarter, compared to the consensus estimate of $608.21 million. Globus Medical had a net margin of 7.83% and a return on equity of 8.82%. The company’s revenue was up 124.6% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. On average, sell-side analysts expect that Globus Medical, Inc. will post 2.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Globus Medical by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 11,277,722 shares of the medical device company’s stock worth $600,990,000 after purchasing an additional 32,220 shares during the last quarter. BlackRock Inc. grew its position in Globus Medical by 0.5% during the 1st quarter. BlackRock Inc. now owns 7,508,520 shares of the medical device company’s stock worth $425,283,000 after purchasing an additional 33,806 shares during the last quarter. Nuance Investments LLC grew its position in Globus Medical by 36.8% during the 3rd quarter. Nuance Investments LLC now owns 3,620,518 shares of the medical device company’s stock worth $179,759,000 after purchasing an additional 974,693 shares during the last quarter. Wellington Management Group LLP grew its position in Globus Medical by 0.6% during the 1st quarter. Wellington Management Group LLP now owns 3,236,599 shares of the medical device company’s stock worth $238,796,000 after purchasing an additional 20,375 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Globus Medical by 80.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,406,682 shares of the medical device company’s stock worth $119,492,000 after purchasing an additional 1,069,419 shares during the last quarter. 80.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GMED has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on shares of Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. BTIG Research raised shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Monday. Canaccord Genuity Group increased their price objective on shares of Globus Medical from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Stifel Nicolaus increased their price objective on shares of Globus Medical from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of Globus Medical in a research report on Thursday, January 11th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Globus Medical currently has an average rating of “Moderate Buy” and a consensus price target of $66.33.

Get Our Latest Stock Analysis on GMED

Globus Medical Company Profile

(Get Free Report)

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.

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