Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 215 Shares of Globus Medical, Inc. (NYSE:GMED)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Globus Medical, Inc. (NYSE:GMED) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,118 shares of the medical device company’s stock after acquiring an additional 215 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Globus Medical were worth $2,078,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Pathstone Holdings LLC grew its holdings in shares of Globus Medical by 2.6% in the 3rd quarter. Pathstone Holdings LLC now owns 41,007 shares of the medical device company’s stock worth $2,934,000 after purchasing an additional 1,055 shares during the last quarter. Intech Investment Management LLC grew its stake in Globus Medical by 291.3% during the third quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock worth $1,469,000 after buying an additional 15,283 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Globus Medical during the third quarter worth approximately $26,406,000. Charles Schwab Investment Management Inc. raised its stake in shares of Globus Medical by 29.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock valued at $88,610,000 after acquiring an additional 285,172 shares during the last quarter. Finally, Raymond James Trust N.A. acquired a new position in shares of Globus Medical in the 3rd quarter worth approximately $205,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Stock Performance

GMED opened at $76.02 on Tuesday. The company has a fifty day moving average price of $83.39 and a two-hundred day moving average price of $79.87. The firm has a market capitalization of $10.46 billion, a PE ratio of 101.36, a P/E/G ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The business had revenue of $657.29 million during the quarter, compared to analysts’ expectations of $646.19 million. Equities analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GMED. BTIG Research lifted their price objective on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Canaccord Genuity Group upped their price target on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Roth Mkm raised their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Wells Fargo & Company dropped their target price on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, Truist Financial decreased their price target on shares of Globus Medical from $90.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.09.

Insider Transactions at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 18.54% of the company’s stock.

Globus Medical Profile

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company 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 solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.