Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Globus Medical Inc shares valued at $1,055,400 were sold by RHOADS ANN D on Sep 13 ’24. At $70.36 per share, RHOADS ANN D sold 15,000 shares. The insider’s holdings dropped to 42,884 shares worth approximately $2.99 million following the completion of this transaction.
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Also, Davidar David D sold 25,000 shares, netting a total of over 1,761,500 in proceeds. Following the sale of shares at $70.46 each, the insider now holds 566,275 shares.
Before that, RHOADS ANN D had added 15,000 shares to its account. In a trade valued at $1,055,000, the Director bought Globus Medical Inc shares for $70.33 each.
As published in a research note from Wells Fargo on August 07, 2024, Globus Medical Inc [GMED] has been rated up from an Equal weight to an Overweight and the price target has been revised to $78 from $60. Analysts at Piper Sandler upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in mid May. As of March 18, 2024, BTIG Research has increased its “Neutral” rating to a “Buy” for GMED. Earlier on October 20, 2023, ROTH MKM initiated its rating. Their recommendation was “a Buy” for GMED stock.
Analyzing GMED Stock Performance
During the last five days, there has been a drop of approximately -0.36%. Over the course of the year, Globus Medical Inc shares have jumped approximately 30.96%. Shares of the company reached a 52-week high of $74.21 on 08/07/24 and a 52-week low of $49.33 on 05/01/24. A 50-day SMA is recorded $70.37, while a 200-day SMA reached $61.69. Nevertheless, trading volume fell to 0.59 million shares from 0.36 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 69.26, which, if violated, would cause prices to drop to 68.73. In the upper region, resistance lies at 70.27. The next price resistance is at 70.75. RSI (Relative Strength Index) is 46.08 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.37, which suggests the price will decrease in the coming days. Percent R is at 77.56%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
