Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Globus Medical Inc shares valued at $550,574 were sold by Norwalk Leslie V on Mar 15 ’24. At $51.99 per share, Norwalk Leslie V sold 10,590 shares. The insider’s holdings dropped to 17,419 shares worth approximately $0.89 million following the completion of this transaction.
Also, Huller Kelly sold 7,500 shares, netting a total of over 405,730 in proceeds. Following the sale of shares at $54.10 each, the insider now holds 0 shares.
Before that, Lemaitre Dan had sold 43,450 shares from its account. In a trade valued at $2,475,977, the Director traded Globus Medical Inc shares for $56.98 each. Upon closing the transaction, the insider’s holdings decreased to 43,450 shares, worth approximately $0.55 million.
As published in a research note from BTIG Research on March 18, 2024, Globus Medical Inc [GMED] has been rated up from a Neutral to a Buy and the price target has been revised to $60. Analysts at ROTH MKM started covering the stock with ‘”a Buy”‘ outlook in a report released in mid October. As of September 19, 2023, Stifel has increased its “Hold” rating to a “Buy” for GMED. Earlier on March 30, 2023, Canaccord Genuity upgraded its rating. Their new recommendation was “a Buy” for GMED stock which previously was a “a Hold”.
Analyzing GMED Stock Performance
During the last five days, there has been a drop of approximately -3.60%. Over the course of the year, Globus Medical Inc shares have dropped approximately -3.92%. Shares of the company reached a 52-week high of $57.46 on 01/22/24 and a 52-week low of $50.75 on 04/16/24. A 50-day SMA is recorded $53.23, while a 200-day SMA reached $52.76. Nevertheless, trading volume fell to 1.16 million shares from 0.76 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 50.85, which, if violated, would cause prices to drop to 50.51. In the upper region, resistance lies at 51.79. The next price resistance is at 52.39. RSI (Relative Strength Index) is 41.80 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.75, which suggests the price will decrease in the coming days. Percent R is at 86.80%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
