Globus Medical Inc (NYSE: GMED) is 40.87% higher on its value in year-to-date trading and has touched a low of $43.38 and a high of $75.98 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The GMED stock was last observed hovering at around $74.29 in the last trading session, with the day’s gains setting it 0.78%.
Currently trading at $75.07, the stock is 3.59% and 5.20% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.86 million and changing 1.05% at the moment leaves the stock 19.06% off its SMA200. GMED registered 64.70% gain for a year compared to 6-month gain of 48.86%. The firm has a 50-day simple moving average (SMA 50) of $71.3616 and a 200-day simple moving average (SMA200) of $63.0519.
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The stock witnessed a 6.63% loss in the last 1 month and extending the period to 3 months gives it a 7.09%, and is 1.60% 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 1.44% over the week and 1.81% over the month.
Globus Medical Inc (GMED) has around 5000 employees, a market worth around $10.17B and $2.24B in sales. Current P/E ratio is 253.53 and Fwd P/E is 22.51. Profit margin for the company is 1.82%. Distance from 52-week low is 73.03% and -1.20% from its 52-week high. The company has generated returns on investments over the last 12 months (1.00%).
The EPS is expected to grow by 23.19% this year
603.0 institutions hold shares in Globus Medical Inc (GMED), with institutional investors hold 103.88% of the company’s shares. The shares outstanding are 113.91M, and float is at 112.15M with Short Float at 2.53%. Institutions hold 103.11% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 10.67 million shares valued at $731.06 million. The investor’s holdings represent 7.8857 of the GMED Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 10.34 million shares valued at $708.18 million to account for 7.6389 of the shares outstanding. The other top investors are JANUS HENDERSON GROUP PLC which holds 7.38 million shares representing 5.4558 and valued at over $505.79 million, while STATE STREET CORP holds 2.5779 of the shares totaling 3.49 million with a market value of $238.99 million.
Globus Medical Inc (GMED) Insider Activity
The most recent transaction is an insider sale by Davidar David D, the company’s Director. SEC filings show that Davidar David D sold 30,000 shares of the company’s common stock on Oct 16 ’24 at a price of $75.04 per share for a total of $2.25 million. Following the sale, the insider now owns 0.54 million shares.
Globus Medical Inc disclosed in a document filed with the SEC on Oct 16 ’24 that Davidar David D (Director) sold a total of 20,000 shares of the company’s common stock. The trade occurred on Oct 16 ’24 and was made at $75.03 per share for $1.5 million. Following the transaction, the insider now directly holds 0.19 million shares of the GMED stock.
Still, SEC filings show that on Oct 16 ’24, Huller Kelly (Officer) Proposed Sale 7,500 shares at an average price of $74.97 for $0.56 million. The insider now directly holds shares of Globus Medical Inc (GMED).
