California Public Employees Retirement System Sells 9,963 Shares of Globus Medical, Inc. (NYSE:GMED)

California Public Employees Retirement System reduced its stake in shares of Globus Medical, Inc. (NYSE:GMEDGet Rating) by 6.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 154,239 shares of the medical device company’s stock after selling 9,963 shares during the period. California Public Employees Retirement System’s holdings in Globus Medical were worth $8,659,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in Globus Medical by 93.8% during the first 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. grew its stake in shares of Globus Medical by 3,325.0% during the second quarter. First Horizon Advisors Inc. now owns 548 shares of the medical device company’s stock valued at $30,000 after buying an additional 532 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of Globus Medical during the second quarter valued at approximately $31,000. Steward Partners Investment Advisory LLC grew its stake in shares of Globus Medical by 159.5% during the first quarter. Steward Partners Investment Advisory LLC now owns 737 shares of the medical device company’s stock valued at $54,000 after buying an additional 453 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Globus Medical by 86.5% during the first quarter. Covestor Ltd now owns 785 shares of the medical device company’s stock valued at $58,000 after buying an additional 364 shares during the last quarter. 73.08% of the stock is owned by institutional investors.

Globus Medical Stock Up 2.6 %

Globus Medical stock opened at $70.66 on Wednesday. The business has a fifty day moving average of $63.48 and a two-hundred day moving average of $61.63. The firm has a market cap of $7.05 billion, a P/E ratio of 46.80, a P/E/G ratio of 3.00 and a beta of 1.06. Globus Medical, Inc. has a twelve month low of $52.60 and a twelve month high of $81.78.

Wall Street Analyst Weigh In

A number of 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. Piper Sandler cut 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. BTIG Research cut their target price on Globus Medical to $71.00 in a research note on Tuesday, August 9th. Barclays assumed 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. Finally, Morgan Stanley boosted their price target on Globus Medical from $66.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, November 9th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.08.

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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