New York State Teachers Retirement System Acquires 9,539 Shares of Globus Medical, Inc. (NYSE:GMED)

New York State Teachers Retirement System raised its holdings in Globus Medical, Inc. (NYSE:GMED) by 12.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,116 shares of the medical device company’s stock after purchasing an additional 9,539 shares during the quarter. New York State Teachers Retirement System owned 0.06% of Globus Medical worth $7,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Quarry LP grew its stake in Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after purchasing an additional 433 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after buying an additional 385 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after buying an additional 206 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock valued at $48,000 after buying an additional 197 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Globus Medical by 41.7% during the 4th quarter. GAMMA Investing LLC now owns 1,258 shares of the medical device company’s stock valued at $104,000 after buying an additional 370 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on GMED. BTIG Research upped their price target on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Roth Mkm upped their price target on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Piper Sandler increased their price objective on Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Canaccord Genuity Group increased their price objective on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $96.91.

Insiders Place Their Bets

In related news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kelly Huller sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by company insiders.

Globus Medical Price Performance

NYSE:GMED opened at $84.17 on Thursday. The firm has a market capitalization of $11.46 billion, a price-to-earnings ratio of 125.62, a PEG ratio of 1.60 and a beta of 1.19. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93. The business has a 50 day simple moving average of $86.70 and a 200-day simple moving average of $78.87.

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.