Fri Sep 20 08:42:55 UTC 2024: ## Globus Medical Director Sells $1 Million in Stock
**New York, NY – September 20, 2024** – Ann D. Rhoads, a director of Globus Medical, Inc. (NYSE: GMED), sold 15,000 shares of the medical device company’s stock on September 13th, according to a recent SEC filing. The transaction totaled $1,055,400.00, with shares sold at an average price of $70.36. Following the sale, Rhoads now directly owns 42,884 shares of Globus Medical, valued at approximately $3,017,318.24.
Globus Medical shares opened at $70.60 on Friday, with a market capitalization of $9.56 billion. The company’s price-to-earnings ratio is 110.31, PEG ratio is 1.91, and beta is 1.17. Its 50-day simple moving average is $70.89, and its 200-day simple moving average is $63.37. Globus Medical has a 52-week low of $43.38 and a 52-week high of $74.21.
The company reported strong earnings on August 6th, exceeding analysts’ expectations for both EPS and revenue. Globus Medical’s revenue for the quarter was up 115.9% year-over-year. Analysts anticipate that Globus Medical will post 2.84 earnings per share for the current year.
Hedge funds have been actively adjusting their holdings of Globus Medical stock in recent months. Ashton Thomas Private Wealth LLC, GAMMA Investing LLC, International Assets Investment Management LLC, YHB Investment Advisors Inc., and Nisa Investment Advisors LLC all made notable purchases or increases in their positions during the first and second quarters. Institutional investors and hedge funds currently own 95.16% of the company’s stock.
Globus Medical specializes in developing and commercializing healthcare solutions for patients with musculoskeletal disorders. They offer a wide range of products, including spine implants, motion preservation technologies, interventional solutions, and regenerative biologic products.
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