Mutual of America Capital Management LLC Has $3.72 Million Stake in Globus Medical, Inc. (NYSE:GMED)

Mutual of America Capital Management LLC decreased its position in Globus Medical, Inc. (NYSE:GMEDGet Rating) by 8.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,295 shares of the medical device company’s stock after selling 5,771 shares during the period. Mutual of America Capital Management LLC owned approximately 0.07% of Globus Medical worth $3,722,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GMED. Signaturefd LLC increased its stake in Globus Medical by 93.8% in the first quarter. Signaturefd LLC now owns 345 shares of the medical device company’s stock valued at $25,000 after purchasing an additional 167 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Globus Medical by 3,325.0% in the second quarter. First Horizon Advisors Inc. now owns 548 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 532 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in Globus Medical in the second quarter valued at $31,000. Steward Partners Investment Advisory LLC increased its stake in Globus Medical by 159.5% in the first quarter. Steward Partners Investment Advisory LLC now owns 737 shares of the medical device company’s stock valued at $54,000 after purchasing an additional 453 shares in the last quarter. Finally, Covestor Ltd increased its stake in Globus Medical by 86.5% in the first quarter. Covestor Ltd now owns 785 shares of the medical device company’s stock valued at $58,000 after purchasing an additional 364 shares in the last quarter. Institutional investors and hedge funds own 73.08% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on GMED shares. Piper Sandler decreased 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 note on Friday, August 5th. StockNews.com raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Friday, November 11th. Barclays initiated coverage on shares of Globus Medical in a research report on Monday, October 17th. They set an “overweight” rating and a $69.00 target price for the company. Morgan Stanley boosted 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 report on Wednesday, November 9th. Finally, BTIG Research decreased their target price on shares of Globus Medical to $71.00 in a research report on Tuesday, August 9th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.08.

Globus Medical Stock Performance

Globus Medical stock opened at $68.97 on Monday. Globus Medical, Inc. has a fifty-two week low of $52.60 and a fifty-two week high of $81.78. The stock has a market cap of $6.89 billion, a PE ratio of 45.68, a price-to-earnings-growth ratio of 3.00 and a beta of 1.06. The firm’s 50-day simple moving average is $63.21 and its 200 day simple moving average is $61.58.

Globus Medical Company Profile

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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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