Globus Medical, Inc. (NYSE:GMED) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,444 shares of the medical device company’s stock after selling 4,835 shares during the period. California Public Employees Retirement System owned approximately 0.13% of Globus Medical worth $15,007,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GMED. Vanguard Group Inc. increased its stake in shares of Globus Medical by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 10,863,834 shares of the medical device company’s stock valued at $898,548,000 after acquiring an additional 240,218 shares during the period. State Street Corp increased its position in shares of Globus Medical by 2.3% during the 3rd quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock valued at $255,450,000 after purchasing an additional 81,371 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Globus Medical by 7.7% in the 4th quarter. JPMorgan Chase & Co. now owns 2,804,330 shares of the medical device company’s stock worth $231,946,000 after buying an additional 199,556 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Globus Medical by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company’s stock worth $134,893,000 after buying an additional 21,935 shares in the last quarter. Finally, Geneva Capital Management LLC lifted its holdings in shares of Globus Medical by 13.6% in the fourth quarter. Geneva Capital Management LLC now owns 1,815,837 shares of the medical device company’s stock valued at $150,188,000 after buying an additional 217,707 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

GMED has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, February 21st. BTIG Research raised their target price on shares of Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. 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 report on Tuesday, March 18th. Barclays increased their price objective on Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Finally, Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.09.

Globus Medical Trading Down 4.2 %

Shares of NYSE GMED opened at $69.01 on Friday. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The business has a 50-day moving average price of $80.17 and a two-hundred day moving average price of $79.95. The firm has a market capitalization of $9.49 billion, a PE ratio of 92.01, a PEG ratio of 1.61 and a beta of 1.19.

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, beating analysts’ consensus estimates of $0.74 by $0.10. The firm had revenue of $657.29 million for the quarter, compared to the consensus estimate of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. Research analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.

Insider Transactions at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.54% of the stock is currently owned by company insiders.

About Globus Medical

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.