Globus Medical Inc. [GMED] Insider Lemaitre Dan sells 43,450 Shares for $43,450


Globus Medical Inc.’s filing revealed that its Director Lemaitre Dan unloaded Company’s shares for reported $2.48 million on May 15. In the deal valued at $56.98 per share,43,450 shares were sold. As a result of this transaction, Lemaitre Dan now holds 10,800 shares worth roughly $ 0.57 million.

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Then, Pfeil Keith W sold 29,167 shares, generating $2,262,426 in total proceeds. Upon selling the shares at $77.57, the SVP, Chief Financial Officer now owns 0 shares.

Before that, Huller Kelly sold 7,500 shares. Globus Medical Inc. shares valued at $562,501 were divested by the SVP, GC, Corporate Secretary at a price of $75.00 per share. As a result of the transaction, Huller Kelly now holds 0 shares, worth roughly $0.0.

Canaccord Genuity upgraded its Globus Medical Inc. [GMED] rating to a Buy from a a Hold in a research note published on Tuesday. PT values the company’s stock at a premium of 21.03 to its Tuesday closing price.

Price Performance Review of GMED

On Tuesday, Globus Medical Inc. [NYSE:GMED] saw its stock fall -2.43% to $52.91. On the same session, the stock had its day’s lowest price of $52.81, but rose to a high of $54.39. Over the last five days, the stock has lost -1.73%. Globus Medical Inc. shares have fallen nearly -28.76% since the year began. Nevertheless, the stocks have fallen -9.68% over the past one year. While a 52-week high of $80.04 was reached on 02/03/23, a 52-week low of $50.92 was recorded on 03/16/23. SMA at 50 days reached $58.01, while 200 days put it at $61.78. A total of 2.57 million shares were traded, compared to the trading of 2.74 million shares in the previous session.

Levels Of Support And Resistance For GMED Stock

The 24-hour chart illustrates a support level at 52.35, which if violated will result in even more drops to 51.79. On the upside, there is a resistance level at 53.93. A further resistance level may holdings at 54.95. The Relative Strength Index (RSI) on the 14-day chart is 34.95, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.73, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.83%. Stochastics %K at 20.20% indicates the stock is a holding.

How much short interest is there in Globus Medical Inc.?

A steep rise in short interest was recorded in Globus Medical Inc. stocks on Aug 14, 2023, dropping by -0.25 million shares to a total of 7.97 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 8.22 million shares. There was a decline of -3.14%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 10.33% of the overall stock float, the days-to-cover ratio (short ratio) fell to 10.03.

Globus Medical Inc. [GMED] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 7,401,390 shares, or roughly 7.38% of the outstanding GMED shares. In other words, the investor’s shares have fallen by -32,686 from its previous 13-F filing of 7434076.0. Additionally, Janus Henderson Investors US LLC increased 6.04% of its stake after which the total value it holdings stand at $424,963,891, while BlackRock Fund Advisors reduced -1.44% of its stake to hold $398.74 million in the firm. Over the last quarter, Nuance Investments LLC purchased 799,526 shares of Globus Medical Inc., while SSgA Funds Management, Inc. bought 85,737 shares. At present, William Blair Investment Manageme is holding 2,281,921 shares valued at $137.53 million. Wellington Management Co. LLP owned 2,224,812 shares of the company at the time of its most recent 13F filing, worth $134.09 million.

According to FactSet, Globus Medical Inc.’s share price will average $67.18 in the next year, based on opinions of analysts polled by the firm. This is up nearly 19.86 percent from its previous closing price of $54.23. Analysts expect Globus Medical Inc. stock to reach the higher price of $77.00, while the lowest price estimate is $60.00. However, 15 analysts have rated GMED stock as a Hold in their predictions for 2023.


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