State of New Jersey Common Pension Fund D raised its stake in Globus Medical, Inc. (NYSE:GMED – Free Report) by 155.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 110,552 shares of the medical device company’s stock after purchasing an additional 67,295 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.11% of Globus Medical worth $5,489,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GMED. American Century Companies Inc. lifted its position in Globus Medical by 91.2% in the first quarter. American Century Companies Inc. now owns 6,507 shares of the medical device company’s stock valued at $480,000 after purchasing an additional 3,104 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Globus Medical by 33.5% in the first quarter. PNC Financial Services Group Inc. now owns 15,578 shares of the medical device company’s stock valued at $1,150,000 after purchasing an additional 3,913 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Globus Medical by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,964 shares of the medical device company’s stock valued at $2,137,000 after purchasing an additional 2,758 shares during the last quarter. BlackRock Inc. increased its stake in shares of Globus Medical by 0.7% during the first quarter. BlackRock Inc. now owns 7,347,858 shares of the medical device company’s stock valued at $542,124,000 after buying an additional 48,913 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in shares of Globus Medical by 8.1% during the first quarter. Great West Life Assurance Co. Can now owns 42,930 shares of the medical device company’s stock valued at $3,255,000 after buying an additional 3,211 shares during the period. Institutional investors own 80.54% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Canaccord Genuity Group boosted their target price on Globus Medical from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, December 20th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 target price on shares of Globus Medical in a research note on Thursday, January 11th. Truist Financial boosted their target price on Globus Medical from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Friday, December 22nd. Roth Mkm started coverage on Globus Medical in a research note on Friday, October 20th. They set a “buy” rating and a $75.00 target price on the stock. Finally, Morgan Stanley reduced their price target on Globus Medical from $60.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $66.11.
Globus Medical Trading Down 0.1 %
NYSE GMED opened at $52.29 on Tuesday. Globus Medical, Inc. has a 12 month low of $43.38 and a 12 month high of $62.88. The stock has a market cap of $7.21 billion, a P/E ratio of 33.74, a P/E/G ratio of 1.73 and a beta of 1.10. The stock’s fifty day moving average price is $52.53 and its 200-day moving average price is $51.58. The company has a current ratio of 4.47, a quick ratio of 2.36 and a debt-to-equity ratio of 0.10.
Globus Medical Profile
Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. It offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional pain management solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.
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