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 $1,700,000 were purchased by Davidar David D on Nov 21 ’24. At $85.00 per share, Davidar David D acquired 20,000 shares.
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Also, Davidar David D purchased 20,000 shares, netting a total of over 17,000 in proceeds.
Before that, Davidar David D had added 3,500 shares to its account. In a trade valued at $297,311, the Director bought Globus Medical Inc shares for $84.95 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 surge of approximately 4.70%. Over the course of the year, Globus Medical Inc shares have jumped approximately 59.34%. Shares of the company reached a 52-week high of $85.01 on 11/21/24 and a 52-week low of $49.33 on 05/01/24. A 50-day SMA is recorded $74.46, while a 200-day SMA reached $65.18. Nevertheless, trading volume fell to 1.75 million shares from 1.04 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 83.66, which, if violated, would cause prices to drop to 82.40. In the upper region, resistance lies at 85.59. The next price resistance is at 86.26. RSI (Relative Strength Index) is 72.75 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.54, which suggests the price will increase in the coming days. Percent R is at 0.93%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
