Globus Medical, Inc. (NYSE:GMED) Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its holdings in Globus Medical, Inc. (NYSE:GMED) by 12.3% during the fourth quarter, HoldingsChannel reports. The fund owned 87,116 shares of the medical device company’s stock after buying an additional 9,539 shares during the period. New York State Teachers Retirement System’s holdings in Globus Medical were worth $7,205,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. raised its position in Globus Medical by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock valued at $447,000 after purchasing an additional 131 shares during the period. Stephens Inc. AR increased its position in shares of Globus Medical by 3.4% during the third quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock worth $303,000 after acquiring an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Globus Medical by 2.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock worth $403,000 after acquiring an additional 140 shares during the period. Berry Wealth Group LP increased its position in shares of Globus Medical by 5.1% during the fourth quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock worth $282,000 after acquiring an additional 164 shares during the period. Finally, Mather Group LLC. increased its position in shares of Globus Medical by 16.3% during the fourth quarter. Mather Group LLC. now owns 1,356 shares of the medical device company’s stock worth $112,000 after acquiring an additional 190 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Price Performance

Shares of GMED opened at $84.17 on Thursday. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93. The firm has a 50 day simple moving average of $86.70 and a 200-day simple moving average of $78.87. The stock has a market cap of $11.46 billion, a price-to-earnings ratio of 125.62, a price-to-earnings-growth ratio of 1.60 and a beta of 1.19.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Truist Financial increased their target price on Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Stifel Nicolaus increased their target price on Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. BTIG Research upped their price objective on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Piper Sandler upped their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, Roth Mkm increased their target price on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.91.

Insider Buying and Selling

In related news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total transaction of $217,500.00. The disclosure for this sale can be found here. 18.54% of the stock is owned by company insiders.

About Globus Medical

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company 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 solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.