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Analysts review Globus Medical Inc’s rating

Globus Medical Inc’s recent filing unveils that its Director Lemaitre Dan unloaded Company’s shares for reported $4.09 million on May 10 ’24. In the deal valued at $64.61 per share,63,300 shares were sold. As a result of this transaction, Lemaitre Dan now holds 0 shares worth roughly $0.0.

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Then, Davidar David D sold 20,000 shares, generating $1,300,000 in total proceeds. Upon selling the shares at $65.00, the Director now owns 566,275 shares.

Before that, Norwalk Leslie V sold 10,590 shares. Globus Medical Inc shares valued at $550,574 were divested by the Director at a price of $51.99 per share. As a result of the transaction, Norwalk Leslie V now holds 17,419 shares, worth roughly $1.2 million.

Piper Sandler upgraded its Globus Medical Inc [GMED] rating to an Overweight from a a Neutral in a research note published on May 20, 2024; the price target was increased to $80 from $60. A number of analysts have revised their coverage, including BTIG Research’s analysts, who increased its forecast for the stock in mid March from “a Neutral” to “a Buy”. ROTH MKM began covering GMED with “Buy” recommendation on October 20, 2023. Stifel revised its rating on September 19, 2023. It rated GMED as “a Buy” which previously was an “a Hold”.

Price Performance Review of GMED

On Friday, Globus Medical Inc [NYSE:GMED] saw its stock jump 0.20% to $68.76. Over the last five days, the stock has lost -0.13%. Globus Medical Inc shares have risen nearly 29.03% since the year began. Nevertheless, the stocks have risen 19.48% over the past one year. While a 52-week high of $69.77 was reached on 07/01/24, a 52-week low of $43.38 was recorded on 05/01/24. SMA at 50 days reached $63.09, while 200 days put it at $54.22. A total of 0.51 million shares were traded, compared to the trading of 0.39 million shares in the previous session.

Levels Of Support And Resistance For GMED Stock

The 24-hour chart illustrates a support level at 68.23, which if violated will result in even more drops to 67.71. On the upside, there is a resistance level at 69.13. A further resistance level may holdings at 69.51. The Relative Strength Index (RSI) on the 14-day chart is 67.25, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.89, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 21.77%. Stochastics%K at 77.13% indicates the stock is a holding.

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