Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Globus Medical Inc. shares valued at $2,458,071 were sold by Davidar David D on Apr 19. At $78.03 per share, Davidar David D sold 31,500 shares. The insider’s holdings dropped to 601,275 shares worth approximately $35.39 million following the completion of this transaction.
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Also, Huller Kelly sold 2,500 shares, netting a total of over 188,962 in proceeds. Following the sale of shares at $75.58 each, the insider now holds 0 shares.
Before that, TOBIN JAMES R had sold 8,850 shares from its account. In a trade valued at $579,418, the Director traded Globus Medical Inc. shares for $65.47 each. Upon closing the transaction, the insider’s holdings decreased to 8,850 shares, worth approximately $0.0.
Analysts at Wells Fargo started covering the stock with ‘”an Overweight”‘ outlook in a report released in late March. As of January 04, 2022, Piper Sandler has increased its “Neutral” rating to a “an Overweight” for GMED. Earlier on December 13, 2021, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for GMED stock which previously was a “an Underperform”.
Analyzing GMED’s Price Performance
On Thursday, Globus Medical Inc. [NYSE: GMED] plunged -1.42% to $58.85. The stock’s lowest price that day was $58.81, but it reached a high of $59.89 in the same session. During the last five days, there has been a surge of approximately 0.10%. Over the course of the year, Globus Medical Inc. shares have dropped approximately -18.49%. Shares of the company reached a 52-week high of $81.78 on 04/21/22 and a 52-week low of $52.60 on 06/16/22. A 50-day SMA is recorded $59.01, while a 200-day SMA reached $67.47. Nevertheless, trading volume fell to 1.15 million shares from 0.58 million shares the previous day.
Support And Resistance Levels for Globus Medical Inc. (GMED)
According to the 24-hour chart, there is a support level at 58.48, which, if violated, would cause prices to drop to 58.10. In the upper region, resistance lies at 59.56. The next price resistance is at 60.26. RSI (Relative Strength Index) is 51.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.09, which suggests the price will increase in the coming days. Percent R is at 35.68%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Globus Medical Inc. subject to short interest?
Stocks of Globus Medical Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.34 million shares to 4.97 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.63 million shares. A jump of 6.84% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 8.01 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.01.
Which companies own the most shares of Globus Medical Inc. (GMED)?
According to The Vanguard Group, Inc. filings, the company currently owns 7,308,035 shares, which is about 9.22% of the total GMED shares outstanding. The investor’s shares have plunged by -91,495 from its previous 13-F filing of 7399530.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $369,749,212. Janus Henderson Investors US LLC acquire a 0.74% interest valued at $369.33 million while Wellington Management Co. LLP purchased a 20,375 stake. A total of 62,156 shares of Globus Medical Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 485,551 were bought by Kayne Anderson Rudnick Investment. In its current portfolio, Capital Research & Management Co holds 1,901,114 shares valued at $106.73 million.