Insider Selling: Globus Medical Inc (GMED) CEO Sells $7,604,559.00 in Stock

Globus Medical Inc (NYSE:GMED) CEO David M. Demski sold 149,109 shares of the stock in a transaction on Thursday, April 19th. The shares were sold at an average price of $51.00, for a total value of $7,604,559.00. Following the completion of the transaction, the chief executive officer now directly owns 192,018 shares in the company, valued at approximately $9,792,918. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of GMED stock opened at $52.09 on Monday. The stock has a market cap of $5,020.23, a price-to-earnings ratio of 39.76, a PEG ratio of 2.88 and a beta of 0.42. Globus Medical Inc has a 1 year low of $27.79 and a 1 year high of $52.18.

How to Become a New Pot Stock Millionaire

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Wednesday, February 21st. The medical device company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.03. The company had revenue of $176.03 million for the quarter, compared to analyst estimates of $175.50 million. Globus Medical had a return on equity of 13.93% and a net margin of 16.88%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.31 earnings per share. sell-side analysts forecast that Globus Medical Inc will post 1.5 EPS for the current year.

Hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Globus Medical by 39.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,183 shares of the medical device company’s stock worth $172,000 after buying an additional 1,183 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Globus Medical during the third quarter worth about $177,000. First Interstate Bank grew its holdings in shares of Globus Medical by 42.5% during the fourth quarter. First Interstate Bank now owns 4,321 shares of the medical device company’s stock worth $178,000 after buying an additional 1,288 shares during the last quarter. Macquarie Group Ltd. purchased a new position in shares of Globus Medical during the third quarter worth about $187,000. Finally, Greenwood Capital Associates LLC purchased a new position in shares of Globus Medical during the fourth quarter worth about $204,000. 65.85% of the stock is currently owned by institutional investors.

Several research firms recently commented on GMED. Zacks Investment Research raised Globus Medical from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Barclays reissued a “sell” rating and issued a $36.00 target price on shares of Globus Medical in a report on Wednesday, January 10th. Wells Fargo reissued an “outperform” rating and issued a $51.00 target price (up previously from $46.00) on shares of Globus Medical in a report on Wednesday, January 10th. BTIG Research reissued a “neutral” rating and issued a $37.00 target price on shares of Globus Medical in a report on Monday, April 16th. Finally, Canaccord Genuity reaffirmed a “positive” rating and set a $53.00 price objective (up previously from $47.00) on shares of Globus Medical in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $50.00.

TRADEMARK VIOLATION NOTICE: This news story was first published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of U.S. & international copyright law. The legal version of this news story can be read at https://www.thelincolnianonline.com/2018/04/23/insider-selling-globus-medical-inc-gmed-ceo-sells-7604559-00-in-stock.html.

About Globus Medical

Globus Medical, Inc, a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address an array of spinal pathologies, anatomies, and surgical approaches. Its fusion products include a range of implant and surgical approach options to treat degenerative, deformity, tumor, and trauma conditions along the spine from the occiput to the sacrum.

Insider Buying and Selling by Quarter for Globus Medical (NYSE:GMED)

Receive News & Ratings for Globus Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply