State of New Jersey Common Pension Fund D Has $2.44 Million Position in Globus Medical, Inc. (NYSE:GMED)

State of New Jersey Common Pension Fund D reduced its stake in Globus Medical, Inc. (NYSE:GMEDGet Rating) by 25.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,964 shares of the medical device company’s stock after selling 13,972 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Globus Medical were worth $2,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Conservest Capital Advisors Inc. boosted its position in Globus Medical by 2.3% during the 2nd quarter. Conservest Capital Advisors Inc. now owns 9,587 shares of the medical device company’s stock worth $538,000 after buying an additional 211 shares during the period. Securian Asset Management Inc. boosted its position in Globus Medical by 3.1% during the 2nd quarter. Securian Asset Management Inc. now owns 7,229 shares of the medical device company’s stock worth $406,000 after buying an additional 214 shares during the period. Synovus Financial Corp boosted its position in Globus Medical by 2.1% during the 2nd quarter. Synovus Financial Corp now owns 12,271 shares of the medical device company’s stock worth $688,000 after buying an additional 250 shares during the period. Gamco Investors INC. ET AL boosted its position in Globus Medical by 5.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 4,622 shares of the medical device company’s stock worth $341,000 after buying an additional 259 shares during the period. Finally, Van ECK Associates Corp boosted its position in Globus Medical by 9.9% during the 3rd quarter. Van ECK Associates Corp now owns 2,899 shares of the medical device company’s stock worth $173,000 after buying an additional 261 shares during the period. 74.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, SVP Kelly Huller sold 7,500 shares of the business’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $75.00, for a total transaction of $562,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 24.41% of the stock is currently owned by company insiders.

Globus Medical Stock Up 1.1 %

NYSE:GMED opened at $74.40 on Monday. The firm has a market capitalization of $7.43 billion, a P/E ratio of 49.27, a P/E/G ratio of 2.85 and a beta of 1.02. The company has a fifty day moving average of $71.73 and a 200-day moving average of $64.75. Globus Medical, Inc. has a twelve month low of $52.60 and a twelve month high of $81.78.

Globus Medical (NYSE:GMEDGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The medical device company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.02). The business had revenue of $254.15 million for the quarter, compared to the consensus estimate of $252.94 million. Globus Medical had a net margin of 15.55% and a return on equity of 11.59%. On average, analysts anticipate that Globus Medical, Inc. will post 2.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GMED. Truist Financial boosted their price target on shares of Globus Medical from $74.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, December 20th. Barclays boosted their price target on shares of Globus Medical from $70.00 to $82.00 in a research report on Wednesday, January 4th. Wells Fargo & Company boosted their price target on shares of Globus Medical from $74.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, December 12th. Morgan Stanley boosted their price target on shares of Globus Medical from $68.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Friday, January 6th. Finally, Jefferies Financial Group began coverage on shares of Globus Medical in a research report on Wednesday, October 12th. They issued a “buy” rating and a $75.00 price target on the stock. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.

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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