In a filing, Globus Medical Inc revealed its Officer Huller Kelly acquired Company’s shares for reported $0.22 million on Dec 02 ’24. In the deal valued at $86.95 per share,2,500 shares were bought.
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Then, Davidar David D sold 13,254 shares, generating $1,126,590 in total proceeds. Upon selling the shares at $85.00, the Director now owns 172,713 shares.
Before that, Davidar David D sold 13,234 shares. Globus Medical Inc shares valued at $1,124,890 were divested by the Director at a price of $85.00 per share. As a result of the transaction, Davidar David D now holds 523,041 shares, worth roughly $44.51 million.
Morgan Stanley upgraded its Globus Medical Inc [GMED] rating to an Overweight from a an Equal-weight in a research note published on December 02, 2024; the price target was increased to $100 from $83. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who increased its forecast for the stock in early August from “an Equal weight” to “an Overweight”. Piper Sandler also remained covering GMED and has increased its forecast on May 20, 2024 with a “an Overweight” recommendation from previously “Neutral” rating. BTIG Research revised its rating on March 18, 2024. It rated GMED as “a Buy” which previously was an “a Neutral”.
Price Performance Review of GMED
On Tuesday, Globus Medical Inc [NYSE:GMED] saw its stock jump 1.43% to $85.10. Over the last five days, the stock has gained 0.72%. Globus Medical Inc shares have risen nearly 59.69% since the year began. Nevertheless, the stocks have risen 84.96% over the past one year. While a 52-week high of $87.22 was reached on 12/02/24, a 52-week low of $44.02 was recorded on 05/01/24. SMA at 50 days reached $76.51, while 200 days put it at $66.30.
Levels Of Support And Resistance For GMED Stock
The 24-hour chart illustrates a support level at 82.86, which if violated will result in even more drops to 80.61. On the upside, there is a resistance level at 86.33. A further resistance level may holdings at 87.55. The Relative Strength Index (RSI) on the 14-day chart is 66.60, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.15, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 31.98%. Stochastics %K at 70.25% 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 2024-11-15, dropping by 48007.0 shares to a total of 2.79 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 2.84 million shares. There was a decline of -1.72%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on October 20, 2023 when ROTH MKM began covering the stock and recommended ‘”a Buy”‘ rating along with a $75 price target.
