Globus Medical Inc’s filing revealed that its SVP, GC, Corporate Secretary Huller Kelly unloaded Company’s shares for reported $0.22 million on Dec 02 ’24. In the deal valued at $87.00 per share,2,500 shares were sold. As a result of this transaction, Huller Kelly now holds 0 shares worth roughly $0.0.
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Then, Huller Kelly bought 2,500 shares, generating $217,364 in total proceeds.
Before that, Davidar David D sold 13,254 shares. Globus Medical Inc shares valued at $1,126,590 were divested by the Director at a price of $85.00 per share. As a result of the transaction, Davidar David D now holds 172,713 shares, worth roughly $14.32 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 fall -0.04% to $82.89. Over the last five days, the stock has lost -2.60%. Globus Medical Inc shares have risen nearly 55.55% since the year began. Nevertheless, the stocks have risen 78.22% over the past one year. While a 52-week high of $87.22 was reached on 12/02/24, a 52-week low of $46.26 was recorded on 05/01/24. SMA at 50 days reached $77.76, while 200 days put it at $67.00.
Levels Of Support And Resistance For GMED Stock
The 24-hour chart illustrates a support level at 82.19, which if violated will result in even more drops to 81.48. On the upside, there is a resistance level at 83.75. A further resistance level may holdings at 84.60. The Relative Strength Index (RSI) on the 14-day chart is 55.24, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.15, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 80.48%. Stochastics %K at 31.08% 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 2024-11-29, dropping by -0.41 million shares to a total of 2.44 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 2.86 million shares. There was a decline of -16.95%, 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.
