Globus Medical (GMED) : During the past 4 weeks, traders have been relatively bearish on Globus Medical (GMED), hence the stock is down -13.74% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -2.1% relative to the S&P 500. The 4-week change in the price of the stock is -13.41% and the stock has fallen -2.13% in the past 1 week.
Globus Medical, Inc. has dropped 3.92% during the last 3-month period . Year-to-Date the stock performance stands at -19.02%. The stock has recorded a 20-day Moving Average of 4.15% and the 50-Day Moving Average is 6.16%.
Globus Medical (NYSE:GMED): The stock opened at $22.63 on Friday but the bulls could not build on the opening and the stock topped out at $22.67 for the day. The stock traded down to $22.50 during the day, due to lack of any buying support eventually closed down at $22.53 with a loss of -0.49% for the day. The stock had closed at $22.64 on the previous day. The total traded volume was 434,348 shares.
Also, Morgan Stanley maintains its rating on Globus Medical (NYSE:GMED). The global brokerage major lowers the current price target from $28 per share to $25 per share. Analysts at the Morgan Stanley have a current rating of Equal-weight on the shares. The rating by the firm was issued on July 28, 2016.
Globus Medical, Inc. is a medical device company. The Company is focused on developing products for patients with musculoskeletal disorders and spine disorders. Its products consist of two categories: Innovative Fusion and Disruptive Technologies. Innovative Fusion products comprise fusion products to treat various spinal disorders for the entire spine and can be used in various surgical approaches. Disruptive Technologies represents a shift in the treatment of spinal disorders by allowing for surgical procedures and the treatment of spinal disorders. The Companys portfolio of Disruptive Technology products includes products that allow for minimally invasive surgical (MIS) techniques, as well as treatment alternatives, including motion preservation technologies, such as dynamic stabilization, total disc replacement and interspinous process spacer products, and biomaterials technologies, as well as interventional pain management solutions.