D.A. Davidson & CO. Takes Position in Globus Medical, Inc. (NYSE:GMED)

D.A. Davidson & CO. bought a new stake in shares of Globus Medical, Inc. (NYSE:GMEDFree Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 30,197 shares of the medical device company’s stock, valued at approximately $1,499,000.

A number of other large investors also recently modified their holdings of GMED. American Century Companies Inc. lifted its stake in Globus Medical by 91.2% in the 1st quarter. American Century Companies Inc. now owns 6,507 shares of the medical device company’s stock worth $480,000 after purchasing an additional 3,104 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Globus Medical by 33.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,578 shares of the medical device company’s stock worth $1,150,000 after purchasing an additional 3,913 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Globus Medical by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,964 shares of the medical device company’s stock worth $2,137,000 after purchasing an additional 2,758 shares in the last quarter. BlackRock Inc. lifted its stake in Globus Medical by 0.7% in the 1st quarter. BlackRock Inc. now owns 7,347,858 shares of the medical device company’s stock worth $542,124,000 after purchasing an additional 48,913 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Globus Medical by 8.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 42,930 shares of the medical device company’s stock worth $3,255,000 after purchasing an additional 3,211 shares in the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on GMED. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price target on shares of Globus Medical in a research note on Thursday, January 11th. Truist Financial upped their target price on shares of Globus Medical from $53.00 to $58.00 and gave the company a “hold” rating in a research report on Friday, December 22nd. Canaccord Genuity Group upped their target price on shares of Globus Medical from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Roth Mkm began coverage on shares of Globus Medical in a research report on Friday, October 20th. They set a “buy” rating and a $75.00 target price on the stock. Finally, Morgan Stanley decreased their target price on shares of Globus Medical from $60.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $66.11.

Check Out Our Latest Stock Analysis on Globus Medical

Globus Medical Stock Performance

Shares of NYSE:GMED opened at $52.36 on Friday. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 1.73 and a beta of 1.10. Globus Medical, Inc. has a 12 month low of $43.38 and a 12 month high of $62.88. The firm’s 50-day moving average is $52.41 and its 200 day moving average is $51.72. The company has a current ratio of 4.47, a quick ratio of 2.36 and a debt-to-equity ratio of 0.10.

About Globus Medical

(Free Report)

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 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 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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