Louisiana State Employees Retirement System Has $2.61 Million Position in Globus Medical, Inc. (NYSE:GMED)

Louisiana State Employees Retirement System boosted its holdings in Globus Medical, Inc. (NYSE:GMED) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,600 shares of the medical device company’s stock after buying an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Globus Medical were worth $2,614,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of GMED. Creative Planning increased its stake in Globus Medical by 5.1% in the third quarter. Creative Planning now owns 6,471 shares of the medical device company’s stock valued at $463,000 after purchasing an additional 314 shares in the last quarter. Swedbank AB increased its stake in Globus Medical by 6.7% in the third quarter. Swedbank AB now owns 400,000 shares of the medical device company’s stock valued at $28,616,000 after purchasing an additional 25,000 shares in the last quarter. Orin Green Financial LLC bought a new stake in Globus Medical in the third quarter valued at approximately $215,000. nVerses Capital LLC bought a new stake in Globus Medical in the third quarter valued at approximately $422,000. Finally, Harbour Capital Advisors LLC bought a new stake in Globus Medical in the third quarter valued at approximately $359,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GMED has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Truist Financial upped their target price on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. StockNews.com raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research note on Friday. Wells Fargo & Company increased their price objective on shares of Globus Medical from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada increased their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Globus Medical has a consensus rating of “Moderate Buy” and a consensus target price of $96.91.

Globus Medical Trading Up 0.0 %

Globus Medical stock opened at $84.04 on Friday. The company has a market cap of $11.44 billion, a P/E ratio of 125.44, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93. The company has a fifty day simple moving average of $86.61 and a 200 day simple moving average of $78.44.

Insider Activity at Globus Medical

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total value of $217,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The disclosure for this sale can be found here. 18.54% of the stock is owned by insiders.

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.