Globus Medical Inc (NYSE: GMED) is -0.43% lower on its value in year-to-date trading and has touched a low of $43.38 and a high of $62.88 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The GMED stock was last observed hovering at around $51.62 in the last trading session, with the day’s gains setting it 1.44%.
Currently trading at $53.06, the stock is -0.58% and -1.28% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.87 million and changing 2.79% at the moment leaves the stock -0.21% off its SMA200. GMED registered -0.58% loss for a year compared to 6-month gain of 7.19%. The firm has a 50-day simple moving average (SMA 50) of $4.58 and a 200-day simple moving average (SMA200) of $20.73.
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The stock witnessed a -5.97% loss in the last 1 month and extending the period to 3 months gives it a -1.90%, and is 2.37% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.22% over the week and 2.77% over the month.
Globus Medical Inc (GMED) has around 5000 employees, a market worth around $7.18B and $1.57B in sales. Current P/E ratio is 45.56 and Fwd P/E is 16.05. Profit margin for the company is 7.83%. Distance from 52-week low is 22.30% and -15.62% from its 52-week high. The company has generated returns on investments over the last 12 months (2.73%).
Globus Medical Inc quarterly earnings per share for the current quarter are estimated at $0.57 with sales reaching $586.17M over the same period.The EPS is expected to grow by 16.01% this year, but quarterly earnings will post 57.10% year-over-year. Quarterly sales are estimated to grow 111.90% in year-over-year returns.
563 institutions hold shares in Globus Medical Inc (GMED), with institutional investors hold 97.75% of the company’s shares. The shares outstanding are 113.91M, and float is at 112.02M with Short Float at 5.23%. Institutions hold 96.97% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 13.93 million shares valued at $829.47 million. The investor’s holdings represent 13.87% of the GMED Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 11.95 million shares valued at $711.6 million to account for 11.90% of the shares outstanding. The other top investors are Janus Henderson Group PLC which holds 7.67 million shares representing 7.64% and valued at over $456.72 million, while State Street Corporation holds 4.02% of the shares totaling 4.03 million with a market value of $240.22 million.
Globus Medical Inc (GMED) Insider Activity
The most recent transaction is an insider sale by Norwalk Leslie V, the company’s Director. SEC filings show that Norwalk Leslie V sold 10,590 shares of the company’s common stock on Mar 15 ’24 at a price of $51.99 per share for a total of $0.55 million. Following the sale, the insider now owns 17419.0 shares.
Globus Medical Inc disclosed in a document filed with the SEC on Mar 01 ’24 that Huller Kelly (SVP, GC, Corporate Secretary) sold a total of 7,500 shares of the company’s common stock. The trade occurred on Mar 01 ’24 and was made at $54.10 per share for $0.41 million. Following the transaction, the insider now directly holds 0.0 shares of the GMED stock.
Still, SEC filings show that on May 15 ’23, Lemaitre Dan (Director) disposed off 43,450 shares at an average price of $56.98 for $2.48 million. The insider now directly holds 10,800 shares of Globus Medical Inc (GMED).
