Globus Medical (GMED) : 14 days before expiry, shorts in Globus Medical (GMED) have reduced from 10,464,665 on Jul 29, 2016, to 8,291,818 on August 15, 2016. On an average, 604,594 shares are traded on the exchange. The outstanding bearish positions are equal to 12% of the float. Short sellers have covered -2,172,847 shares, a reduction of -20.8%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Globus Medical (NYSE:GMED): The stock opened at $22.90 on Wednesday but the bulls could not build on the opening and the stock topped out at $23.02 for the day. The stock traded down to $22.41 during the day, due to lack of any buying support eventually closed down at $22.45 with a loss of -1.71% for the day. The stock had closed at $22.84 on the previous day. The total traded volume was 303,081 shares.
In a related news,The officer (Group President, Commerical Op) of Globus Medical Inc, Murphy A Brett sold 107,692 shares at $23.38 on August 4, 2016. The Insider selling transaction had a total value worth of $2,517,839. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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.