Strs Ohio increased its stake in Globus Medical, Inc. (NYSE:GMED – Free Report) by 29.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 110,782 shares of the medical device company’s stock after buying an additional 25,396 shares during the quarter. Strs Ohio’s holdings in Globus Medical were worth $9,545,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Annex Advisory Services LLC purchased a new stake in Globus Medical in the fourth quarter worth approximately $20,572,000. Kingdon Capital Management L.L.C. grew its position in Globus Medical by 51.6% in the 3rd quarter. Kingdon Capital Management L.L.C. now owns 257,650 shares of the medical device company’s stock worth $14,756,000 after purchasing an additional 87,650 shares during the period. Kennedy Capital Management LLC raised its stake in Globus Medical by 44.6% during the 3rd quarter. Kennedy Capital Management LLC now owns 490,949 shares of the medical device company’s stock valued at $28,117,000 after buying an additional 151,500 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Globus Medical by 71,618.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 716,469 shares of the medical device company’s stock valued at $62,555,000 after buying an additional 715,470 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Globus Medical by 510.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 266,532 shares of the medical device company’s stock valued at $23,271,000 after buying an additional 222,841 shares during the period. Institutional investors own 95.16% of the company’s stock.
Globus Medical Stock Down 0.1%
Shares of GMED opened at $80.01 on Monday. The business has a 50-day simple moving average of $82.08 and a two-hundred day simple moving average of $87.12. Globus Medical, Inc. has a 52 week low of $51.79 and a 52 week high of $101.40. The stock has a market cap of $10.86 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.65 and a beta of 0.95.
Insiders Place Their Bets
In other Globus Medical news, Director David D. Davidar sold 25,000 shares of Globus Medical stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $80.76, for a total transaction of $2,019,000.00. Following the transaction, the director owned 510,175 shares of the company’s stock, valued at $41,201,733. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.38% of the stock is owned by corporate insiders.
Analyst Ratings Changes
GMED has been the topic of a number of research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Globus Medical in a research note on Wednesday, April 15th. Piper Sandler reduced their price objective on Globus Medical from $115.00 to $100.00 and set an “overweight” rating for the company in a research report on Monday, June 15th. Wells Fargo & Company lowered their target price on Globus Medical from $104.00 to $103.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Wall Street Zen cut Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Needham & Company LLC boosted their price target on Globus Medical from $114.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.00.
Read Our Latest Research Report on Globus Medical
About Globus Medical
Globus Medical, Inc (NYSE:GMED) is a leading medical device company specializing in musculoskeletal solutions for spine and orthopaedic applications. Founded in 2003 by David C. Paul and headquartered in Audubon, Pennsylvania, the company develops, manufactures and markets implantable devices and surgical instruments designed to treat spinal disorders and promote bone healing. Its product portfolio encompasses solutions for minimally invasive and open surgical procedures, including interbody fusion devices, pedicle screw systems, and biologics used to enhance fusion outcomes.
In addition to its core spine business, Globus Medical has expanded into robotics and navigation systems to support precision and efficiency in the operating room.
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