Swiss National Bank Increases Stock Position in Globus Medical, Inc. (NYSE:GMED)

Swiss National Bank boosted its stake in Globus Medical, Inc. (NYSE:GMEDGet Rating) by 28.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,300 shares of the medical device company’s stock after purchasing an additional 52,400 shares during the quarter. Swiss National Bank owned about 0.24% of Globus Medical worth $13,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. raised its stake in Globus Medical by 0.7% in the first quarter. BlackRock Inc. now owns 7,347,858 shares of the medical device company’s stock valued at $542,124,000 after purchasing an additional 48,913 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Globus Medical by 0.6% during the first quarter. Wellington Management Group LLP now owns 3,236,599 shares of the medical device company’s stock worth $238,796,000 after acquiring an additional 20,375 shares in the last quarter. State Street Corp raised its stake in shares of Globus Medical by 2.9% during the first quarter. State Street Corp now owns 2,219,112 shares of the medical device company’s stock worth $163,726,000 after acquiring an additional 62,156 shares in the last quarter. RTW Investments LP raised its stake in shares of Globus Medical by 0.7% during the first quarter. RTW Investments LP now owns 1,682,291 shares of the medical device company’s stock worth $124,119,000 after acquiring an additional 11,480 shares in the last quarter. Finally, GW&K Investment Management LLC raised its stake in shares of Globus Medical by 1.4% during the first quarter. GW&K Investment Management LLC now owns 1,534,405 shares of the medical device company’s stock worth $113,208,000 after acquiring an additional 21,525 shares in the last quarter. 73.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GMED has been the topic of several research reports. StockNews.com raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research note on Friday, November 11th. Barclays initiated coverage on shares of Globus Medical in a research note on Monday, October 17th. They set an “overweight” rating and a $69.00 price target on the stock. BTIG Research decreased their price target on shares of Globus Medical to $71.00 in a research note on Tuesday, August 9th. Jefferies Financial Group began coverage on shares of Globus Medical in a research note on Wednesday, October 12th. They issued a “buy” rating and a $75.00 target price on the stock. Finally, Morgan Stanley lifted their target price on shares of Globus Medical from $66.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 9th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Globus Medical has an average rating of “Moderate Buy” and a consensus price target of $75.08.

Globus Medical Stock Up 0.7 %

NYSE:GMED opened at $68.97 on Friday. The stock has a market cap of $6.86 billion, a P/E ratio of 45.68, a price-to-earnings-growth ratio of 3.06 and a beta of 1.06. The firm’s fifty day simple moving average is $63.21 and its 200 day simple moving average is $61.66. Globus Medical, Inc. has a twelve month low of $52.60 and a twelve month high of $81.78.

About Globus Medical

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

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