State Board of Administration of Florida Retirement System Cuts Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

State Board of Administration of Florida Retirement System trimmed its position in shares of Globus Medical, Inc. (NYSE:GMEDGet Rating) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,339 shares of the medical device company’s stock after selling 1,718 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Globus Medical were worth $4,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Signaturefd LLC boosted its holdings in Globus Medical by 93.8% during the 1st quarter. Signaturefd LLC now owns 345 shares of the medical device company’s stock worth $25,000 after acquiring an additional 167 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Globus Medical by 3,325.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 548 shares of the medical device company’s stock worth $30,000 after purchasing an additional 532 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of Globus Medical by 159.5% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 737 shares of the medical device company’s stock worth $54,000 after purchasing an additional 453 shares during the period. Covestor Ltd raised its stake in shares of Globus Medical by 86.5% during the 1st quarter. Covestor Ltd now owns 785 shares of the medical device company’s stock worth $58,000 after purchasing an additional 364 shares during the period. Finally, JJJ Advisors Inc. raised its stake in shares of Globus Medical by 111.2% during the 1st quarter. JJJ Advisors Inc. now owns 828 shares of the medical device company’s stock worth $61,000 after purchasing an additional 436 shares during the period. 73.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GMED shares. Jefferies Financial Group started coverage on Globus Medical in a research note on Wednesday, October 12th. They set a “buy” rating and a $75.00 target price on the stock. Barclays started coverage on Globus Medical in a research note on Monday, October 17th. They set an “overweight” rating and a $69.00 target price on the stock. Truist Financial lowered their target price on Globus Medical from $76.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Morgan Stanley boosted their price objective on Globus Medical from $66.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 9th. Finally, BTIG Research lowered their price objective on Globus Medical to $71.00 in a research note on Tuesday, August 9th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.08.

Globus Medical Stock Up 6.9 %

Shares of GMED opened at $70.33 on Monday. The business’s 50-day moving average price is $62.20 and its 200-day moving average price is $61.46. Globus Medical, Inc. has a twelve month low of $52.60 and a twelve month high of $81.78. The stock has a market cap of $7.00 billion, a PE ratio of 46.58, a P/E/G ratio of 2.86 and a beta of 1.06.

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.

See Also

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Institutional Ownership by Quarter for Globus Medical (NYSE:GMED)

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