In a filing, Globus Medical Inc revealed its Director Davidar David D unloaded Company’s shares for reported $2.25 million on Oct 16 ’24. In the deal valued at $75.04 per share,30,000 shares were sold. As a result of this transaction, Davidar David D now holds 536,275 shares worth roughly $39.07 million.
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Then, Davidar David D sold 20,000 shares, generating $1,500,610 in total proceeds. Upon selling the shares at $75.03, the Director now owns 185,967 shares.
Before that, Huller Kelly bought 7,500 shares. Globus Medical Inc shares valued at $562,250 were divested by the Officer at a price of $74.97 per share.
Wells Fargo upgraded its Globus Medical Inc [GMED] rating to an Overweight from a an Equal weight in a research note published on August 07, 2024; the price target was increased to $78 from $60. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who increased its forecast for the stock in mid May from “a Neutral” to “an Overweight”. BTIG Research also remained covering GMED and has increased its forecast on March 18, 2024 with a “Buy” recommendation from previously “Neutral” rating. ROTH MKM started covering the stock on October 20, 2023. It rated GMED as “a Buy”.
Price Performance Review of GMED
On Friday, Globus Medical Inc [NYSE:GMED] saw its stock fall -1.45% to $72.85. Over the last five days, the stock has gained 3.23%. Globus Medical Inc shares have risen nearly 36.70% since the year began. Nevertheless, the stocks have risen 35.21% over the past one year. While a 52-week high of $75.98 was reached on 10/16/24, a 52-week low of $43.38 was recorded on 05/01/24. SMA at 50 days reached $70.71, while 200 days put it at $62.27.
Levels Of Support And Resistance For GMED Stock
The 24-hour chart illustrates a support level at 71.80, which if violated will result in even more drops to 70.76. On the upside, there is a resistance level at 74.02. A further resistance level may holdings at 75.20. The Relative Strength Index (RSI) on the 14-day chart is 57.65, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.55, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 44.94%. Stochastics %K at 69.90% 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 2024-09-30, dropping by -0.98 million shares to a total of 3.41 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 4.39 million shares. There was a decline of -28.64%, which implies that there is a negative sentiment for the stock.
