Diversified Trust Co Raises Stake in Globus Medical, Inc. (NYSE:GMED)

Diversified Trust Co raised its stake in Globus Medical, Inc. (NYSE:GMEDGet Rating) by 6.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 10,478 shares of the medical device company’s stock after buying an additional 666 shares during the period. Diversified Trust Co’s holdings in Globus Medical were worth $588,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its stake in shares of Globus Medical by 93.8% in the 1st quarter. Signaturefd LLC now owns 345 shares of the medical device company’s stock valued at $25,000 after purchasing an additional 167 shares during the last quarter. Tyler Stone Wealth Management acquired a new position in shares of Globus Medical in the 4th quarter valued at $25,000. Spire Wealth Management lifted its stake in shares of Globus Medical by 183.5% in the 1st quarter. Spire Wealth Management now owns 499 shares of the medical device company’s stock valued at $37,000 after purchasing an additional 323 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Globus Medical by 159.5% in the 1st 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 during the last quarter. Finally, Covestor Ltd lifted its stake in shares of Globus Medical by 86.5% in the 1st quarter. Covestor Ltd now owns 785 shares of the medical device company’s stock valued at $58,000 after purchasing an additional 364 shares during the last quarter. 73.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Piper Sandler decreased their target price on Globus Medical from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, August 5th. Morgan Stanley decreased their target price on Globus Medical from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, July 15th. StockNews.com raised Globus Medical from a “hold” rating to a “buy” rating in a research note on Monday, August 15th. BTIG Research reduced their price target on Globus Medical to $71.00 in a research report on Tuesday, August 9th. Finally, Truist Financial reduced their price target on Globus Medical from $76.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, July 20th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $77.36.

Globus Medical Stock Performance

GMED opened at $59.02 on Thursday. Globus Medical, Inc. has a one year low of $52.60 and a one year high of $81.78. The company has a market cap of $5.87 billion, a P/E ratio of 39.61, a PEG ratio of 2.89 and a beta of 1.11. The business’s 50-day simple moving average is $60.87 and its 200-day simple moving average is $64.10.

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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