Empowered Funds LLC Makes New $6.40 Million Investment in Globus Medical, Inc. (NYSE:GMED)

Empowered Funds LLC purchased a new stake in Globus Medical, Inc. (NYSE:GMED) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 77,432 shares of the medical device company’s stock, valued at approximately $6,404,000. Empowered Funds LLC owned about 0.06% of Globus Medical as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Creative Planning grew its holdings in Globus Medical by 16.8% in the 2nd quarter. Creative Planning now owns 6,157 shares of the medical device company’s stock valued at $422,000 after buying an additional 886 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Globus Medical in the second quarter valued at approximately $611,000. GAMMA Investing LLC grew its stake in shares of Globus Medical by 40.7% in the third quarter. GAMMA Investing LLC now owns 888 shares of the medical device company’s stock worth $64,000 after acquiring an additional 257 shares during the last quarter. Swedbank AB increased its position in Globus Medical by 6.7% during the third quarter. Swedbank AB now owns 400,000 shares of the medical device company’s stock worth $28,616,000 after acquiring an additional 25,000 shares during the period. Finally, Orin Green Financial LLC acquired a new position in Globus Medical during the 3rd quarter valued at $215,000. 95.16% of the stock is currently owned by institutional investors.

Insider Activity at Globus Medical

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on GMED. Canaccord Genuity Group raised their price target on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Royal Bank of Canada boosted their price target on Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com cut Globus Medical from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Truist Financial lifted their price objective on Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Finally, Roth Mkm upped their target price on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $96.91.

Globus Medical Stock Performance

Shares of NYSE GMED opened at $87.41 on Tuesday. Globus Medical, Inc. has a 52-week low of $49.33 and a 52-week high of $94.93. The business has a fifty day moving average of $86.56 and a two-hundred day moving average of $78.20. The stock has a market cap of $11.90 billion, a PE ratio of 130.46, a PEG ratio of 1.68 and a beta of 1.19.

Globus Medical Company Profile

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.