Bridge City Capital LLC cut its stake in Globus Medical, Inc. (NYSE:GMED – Get Rating) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,604 shares of the medical device company’s stock after selling 215 shares during the quarter. Globus Medical accounts for about 1.5% of Bridge City Capital LLC’s investment portfolio, making the stock its 18th largest holding. Bridge City Capital LLC’s holdings in Globus Medical were worth $3,291,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in GMED. Bank of America Corp DE grew its position in Globus Medical by 5.9% during the fourth quarter. Bank of America Corp DE now owns 194,552 shares of the medical device company’s stock valued at $14,048,000 after buying an additional 10,908 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Globus Medical by 22.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 6,071 shares of the medical device company’s stock worth $438,000 after purchasing an additional 1,124 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Globus Medical by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 604,813 shares of the medical device company’s stock worth $43,668,000 after purchasing an additional 15,280 shares during the period. HighTower Advisors LLC boosted its position in shares of Globus Medical by 240.3% in the fourth quarter. HighTower Advisors LLC now owns 42,615 shares of the medical device company’s stock worth $3,069,000 after purchasing an additional 30,094 shares during the period. Finally, Aviva PLC boosted its position in shares of Globus Medical by 76.8% in the fourth quarter. Aviva PLC now owns 36,214 shares of the medical device company’s stock worth $2,615,000 after purchasing an additional 15,730 shares during the period. 73.08% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on GMED shares. Morgan Stanley dropped their price target on shares of Globus Medical from $68.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, July 15th. BTIG Research dropped their price target on shares of Globus Medical to $71.00 in a research report on Tuesday, August 9th. Piper Sandler dropped their price target on shares of Globus Medical from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, August 5th. StockNews.com raised shares of Globus Medical from a “hold” rating to a “buy” rating in a report on Monday, August 15th. Finally, Truist Financial lowered their target price on shares of Globus Medical from $76.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, July 20th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.36.
Globus Medical Stock Down 2.2 %
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, deformity, tumors, and trauma conditions; 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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