Globus Medical Inc (GMED) CAO Steven Payne Sells 3,076 Shares

Globus Medical Inc (NYSE:GMED) CAO Steven Payne sold 3,076 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $39.30, for a total value of $120,886.80. Following the completion of the sale, the chief accounting officer now owns 23,847 shares in the company, valued at approximately $937,187.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Globus Medical Inc (NYSE:GMED) opened at $38.95 on Tuesday. The company has a market capitalization of $3,781.79, a P/E ratio of 31.39, a P/E/G ratio of 2.98 and a beta of 0.58. Globus Medical Inc has a 52-week low of $23.96 and a 52-week high of $41.70.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Wednesday, November 8th. The medical device company reported $0.30 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The business had revenue of $151.74 million for the quarter, compared to analyst estimates of $150.73 million. During the same quarter in the prior year, the firm posted $0.29 EPS. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. analysts expect that Globus Medical Inc will post 1.27 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in GMED. Janus Henderson Group PLC boosted its position in Globus Medical by 260.0% in the 2nd quarter. Janus Henderson Group PLC now owns 2,683,312 shares of the medical device company’s stock worth $88,952,000 after purchasing an additional 1,938,039 shares in the last quarter. NWQ Investment Management Company LLC purchased a new stake in Globus Medical in the 3rd quarter worth approximately $25,856,000. American Century Companies Inc. purchased a new stake in Globus Medical in the 3rd quarter worth approximately $24,126,000. Nuance Investments LLC boosted its position in Globus Medical by 207.5% in the 3rd quarter. Nuance Investments LLC now owns 776,919 shares of the medical device company’s stock worth $23,090,000 after purchasing an additional 524,248 shares in the last quarter. Finally, Koch Industries Inc. boosted its position in Globus Medical by 3,950.6% in the 2nd quarter. Koch Industries Inc. now owns 479,431 shares of the medical device company’s stock worth $465,000 after purchasing an additional 467,595 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

A number of equities research analysts recently commented on the company. ValuEngine lowered Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Wells Fargo & Company upgraded Globus Medical from a “market perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a research report on Monday, December 4th. Gabelli reiterated a “buy” rating on shares of Globus Medical in a research report on Tuesday, November 14th. BTIG Research set a $42.00 target price on Globus Medical and gave the company a “buy” rating in a research report on Monday, November 20th. Finally, Zacks Investment Research upgraded Globus Medical from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. Globus Medical has an average rating of “Hold” and an average price target of $36.83.

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Globus Medical Company Profile

Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.

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