Mirae Asset Global Investments Co. Ltd. lowered its position in shares of Globus Medical, Inc. (NYSE:GMED – Free Report) by 24.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,759 shares of the medical device company’s stock after selling 7,290 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Globus Medical were worth $1,213,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of GMED. DekaBank Deutsche Girozentrale acquired a new position in shares of Globus Medical during the 3rd quarter valued at about $28,000. Allworth Financial LP grew its holdings in Globus Medical by 25.7% in the fourth quarter. Allworth Financial LP now owns 1,242 shares of the medical device company’s stock valued at $66,000 after purchasing an additional 254 shares during the period. Nisa Investment Advisors LLC increased its position in Globus Medical by 122.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,493 shares of the medical device company’s stock worth $74,000 after purchasing an additional 823 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in Globus Medical during the third quarter worth approximately $89,000. Finally, Coldstream Capital Management Inc. purchased a new stake in shares of Globus Medical during the 3rd quarter valued at $205,000. Institutional investors and hedge funds own 95.16% of the company’s stock.
Globus Medical Trading Up 1.8 %
GMED opened at $51.25 on Tuesday. The firm has a market capitalization of $6.94 billion, a P/E ratio of 43.80, a P/E/G ratio of 1.48 and a beta of 1.08. The firm’s 50 day moving average is $53.17 and its 200-day moving average is $51.37. The company has a quick ratio of 2.72, a current ratio of 4.88 and a debt-to-equity ratio of 0.10. Globus Medical, Inc. has a 52-week low of $43.38 and a 52-week high of $62.88.
Insider Activity at Globus Medical
In other Globus Medical news, Director Leslie V. Norwalk sold 10,590 shares of Globus Medical stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $51.99, for a total transaction of $550,574.10. Following the sale, the director now directly owns 17,419 shares in the company, valued at approximately $905,613.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 24.30% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
GMED has been the topic of a number of research analyst reports. BTIG Research upgraded Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday, March 18th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 target price on shares of Globus Medical in a research report on Thursday, January 11th. Truist Financial lifted their price target on shares of Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. Finally, Stifel Nicolaus increased their price objective on shares of Globus Medical from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Globus Medical currently has a consensus rating of “Moderate Buy” and an average target price of $66.33.
Read Our Latest Stock Analysis on GMED
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.
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