Daniel T. Scavilla Sells 100,000 Shares of Globus Medical Inc (GMED) Stock

Globus Medical Inc (NYSE:GMED) VP Daniel T. Scavilla sold 100,000 shares of the stock in a transaction on Tuesday, April 10th. The stock was sold at an average price of $50.00, for a total value of $5,000,000.00. Following the completion of the transaction, the vice president now directly owns 18,210 shares in the company, valued at $910,500. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

NYSE:GMED opened at $50.63 on Friday. Globus Medical Inc has a 12 month low of $27.79 and a 12 month high of $52.18. The stock has a market capitalization of $4,818.80, a price-to-earnings ratio of 38.65, a P/E/G ratio of 2.77 and a beta of 0.42.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Wednesday, February 21st. The medical device company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. Globus Medical had a return on equity of 13.93% and a net margin of 16.88%. The company had revenue of $176.03 million for the quarter, compared to analyst estimates of $175.50 million. During the same period last year, the company posted $0.31 earnings per share. The firm’s revenue was up 16.1% compared to the same quarter last year. equities research analysts anticipate that Globus Medical Inc will post 1.5 EPS for the current fiscal year.



A number of large investors have recently added to or reduced their stakes in GMED. Xact Kapitalforvaltning AB purchased a new stake in shares of Globus Medical during the fourth quarter worth about $298,000. Envestnet Asset Management Inc. increased its position in shares of Globus Medical by 3.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 49,126 shares of the medical device company’s stock worth $2,019,000 after acquiring an additional 1,670 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in shares of Globus Medical by 5.7% during the fourth quarter. Segall Bryant & Hamill LLC now owns 337,969 shares of the medical device company’s stock worth $13,891,000 after acquiring an additional 18,315 shares during the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Globus Medical during the fourth quarter worth about $3,303,000. Finally, Redmile Group LLC purchased a new stake in shares of Globus Medical during the fourth quarter worth about $8,573,000. 65.92% of the stock is currently owned by institutional investors.

Several research analysts recently weighed in on GMED shares. ValuEngine raised Globus Medical from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research raised Globus Medical from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Monday, February 26th. BTIG Research set a $45.00 price objective on Globus Medical and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Morgan Stanley set a $53.00 price objective on Globus Medical and gave the company a “buy” rating in a research report on Thursday, February 22nd. Finally, Canaccord Genuity reissued a “buy” rating and issued a $53.00 price objective on shares of Globus Medical in a research report on Monday, March 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $51.56.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Dakota Financial News and is owned by of Dakota Financial News. If you are viewing this news story on another site, it was illegally copied and republished in violation of international trademark and copyright laws. The correct version of this news story can be read at https://dakotafinancialnews.com/2018/04/13/daniel-t-scavilla-sells-100000-shares-of-globus-medical-inc-gmed-stock.html.

Globus Medical Company Profile

Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.

Insider Buying and Selling by Quarter for Globus Medical (NYSE:GMED)

Receive News & Ratings for Globus Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply