Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Globus Medical Inc shares valued at $4,090,022 were sold by Lemaitre Dan on May 10 ’24. At $64.61 per share, Lemaitre Dan sold 63,300 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Davidar David D sold 20,000 shares, netting a total of over 1,300,000 in proceeds. Following the sale of shares at $65.00 each, the insider now holds 566,275 shares.
Before that, Norwalk Leslie V had sold 10,590 shares from its account. In a trade valued at $550,574, the Director traded Globus Medical Inc shares for $51.99 each. Upon closing the transaction, the insider’s holdings decreased to 10,590 shares, worth approximately $1.17 million.
As published in a research note from Piper Sandler on May 20, 2024, Globus Medical Inc [GMED] has been rated up from a Neutral to an Overweight and the price target has been revised to $80 from $60. Analysts at BTIG Research upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid March. As of October 20, 2023, ROTH MKM has initiated its “Buy” rating for GMED. Earlier on September 19, 2023, Stifel 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 surge of approximately 4.06%. Over the course of the year, Globus Medical Inc shares have jumped approximately 26.01%. Shares of the company reached a 52-week high of $67.37 on 05/22/24 and a 52-week low of $49.33 on 05/01/24. A 50-day SMA is recorded $54.56, while a 200-day SMA reached $52.35. Nevertheless, trading volume fell to 0.96 million shares from 0.87 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 66.38, which, if violated, would cause prices to drop to 65.62. In the upper region, resistance lies at 67.64. The next price resistance is at 68.14. RSI (Relative Strength Index) is 77.11 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.94, which suggests the price will increase in the coming days. Percent R is at 1.27%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
