The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Globus Medical Inc shares valued at $217,502 were sold by Huller Kelly on Dec 02 ’24. At $87.00 per share, Huller Kelly sold 2,500 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, Huller Kelly purchased 2,500 shares, netting a total of over 217,364 in proceeds.
Before that, Davidar David D had sold 13,254 shares from its account. In a trade valued at $1,126,590, the Director traded Globus Medical Inc shares for $85.00 each. Upon closing the transaction, the insider’s holdings decreased to 13,254 shares, worth approximately $14.13 million.
As published in a research note from Morgan Stanley on December 02, 2024, Globus Medical Inc [GMED] has been rated up from an Equal-weight to an Overweight and the price target has been revised to $100 from $83. Analysts at Wells Fargo upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in early August. As of May 20, 2024, Piper Sandler has increased its “Neutral” rating to a “an Overweight” for GMED. Earlier on March 18, 2024, BTIG Research upgraded its rating. Their new recommendation was “a Buy” for GMED stock which previously was a “a Neutral”.
Analyzing GMED Stock Performance
During the last five days, there has been a drop of approximately -1.96%. Over the course of the year, Globus Medical Inc shares have dropped approximately -1.06%. Shares of the company reached a 52-week high of $83.75 on 01/02/25 and a 52-week low of $81.37 on 01/02/25. A 50-day SMA is recorded $81.14, while a 200-day SMA reached $69.14. Nevertheless, trading volume fell to 0.99 million shares from 0.61 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 80.88, which, if violated, would cause prices to drop to 79.94. In the upper region, resistance lies at 83.26. The next price resistance is at 84.70. RSI (Relative Strength Index) is 46.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.34, which suggests the price will decrease in the coming days. Percent R is at 86.57%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
