Globus Medical, Inc. (NYSE:GMED) Shares Bought by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp raised its stake in Globus Medical, Inc. (NYSE:GMEDFree Report) by 41.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 99,674 shares of the medical device company’s stock after buying an additional 29,320 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.10% of Globus Medical worth $4,949,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sector Gamma AS acquired a new position in shares of Globus Medical during the third quarter valued at $11,014,000. Barclays PLC increased its holdings in shares of Globus Medical by 58.8% during the third quarter. Barclays PLC now owns 630,662 shares of the medical device company’s stock valued at $31,315,000 after purchasing an additional 233,459 shares during the period. Retirement Systems of Alabama grew its holdings in Globus Medical by 0.5% during the second quarter. Retirement Systems of Alabama now owns 268,072 shares of the medical device company’s stock worth $15,961,000 after acquiring an additional 1,242 shares during the period. Boston Trust Walden Corp grew its holdings in Globus Medical by 6.6% during the third quarter. Boston Trust Walden Corp now owns 747,848 shares of the medical device company’s stock worth $37,131,000 after acquiring an additional 46,580 shares during the period. Finally, Van Berkom & Associates Inc. grew its holdings in Globus Medical by 23.4% during the third quarter. Van Berkom & Associates Inc. now owns 1,449,387 shares of the medical device company’s stock worth $71,962,000 after acquiring an additional 275,252 shares during the period. 80.54% of the stock is owned by institutional investors and hedge funds.

Globus Medical Stock Down 0.1 %

GMED opened at $52.29 on Tuesday. The business has a 50 day moving average price of $52.53 and a 200 day moving average price of $51.58. Globus Medical, Inc. has a twelve month low of $43.38 and a twelve month high of $62.88. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.36 and a current ratio of 4.47. The firm has a market cap of $7.21 billion, a P/E ratio of 33.74, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10.

Analyst Ratings Changes

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

View Our Latest Report on Globus Medical

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.

Further Reading

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

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