New York State Common Retirement Fund Purchases 17,668 Shares of Globus Medical, Inc. (NYSE:GMED)

New York State Common Retirement Fund grew its position in Globus Medical, Inc. (NYSE:GMEDFree Report) by 18.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,738 shares of the medical device company’s stock after buying an additional 17,668 shares during the quarter. New York State Common Retirement Fund’s holdings in Globus Medical were worth $5,548,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new stake in shares of Globus Medical during the 2nd quarter valued at approximately $27,000. Quarry LP bought a new stake in shares of Globus Medical during the 1st quarter valued at approximately $27,000. Advisory Services Network LLC grew its holdings in shares of Globus Medical by 109.6% during the 1st quarter. Advisory Services Network LLC now owns 503 shares of the medical device company’s stock valued at $28,000 after purchasing an additional 263 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in shares of Globus Medical during the 4th quarter valued at approximately $28,000. Finally, Harbor Investment Advisory LLC bought a new stake in shares of Globus Medical during the 3rd quarter valued at approximately $56,000. 80.54% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Trading Down 0.2 %

NYSE:GMED opened at $52.36 on Monday. The firm’s fifty day moving average is $52.41 and its 200-day moving average is $51.64. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.36 and a current ratio of 4.47. Globus Medical, Inc. has a 52 week low of $43.38 and a 52 week high of $62.88. The firm has a market cap of $7.21 billion, a P/E ratio of 33.78, a P/E/G ratio of 1.73 and a beta of 1.10.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GMED. Truist Financial lifted their price target on shares of Globus Medical from $53.00 to $58.00 and gave the company a “hold” rating in a report on Friday, December 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 target price on shares of Globus Medical in a report on Thursday, January 11th. Roth Mkm initiated coverage on shares of Globus Medical in a report on Friday, October 20th. They set a “buy” rating and a $75.00 target price on the stock. Canaccord Genuity Group boosted their target price on shares of Globus Medical from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. Finally, Morgan Stanley reduced their target price on shares of Globus Medical from $60.00 to $53.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Globus Medical has a consensus rating of “Hold” and a consensus price target of $66.11.

View Our Latest Stock Report on GMED

Globus Medical Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Globus Medical (NYSE:GMED)

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