Mutual of America Capital Management LLC grew its position in shares of Globus Medical Inc (NYSE:GMED) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,892 shares of the medical device company’s stock after buying an additional 2,134 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.06% of Globus Medical worth $2,420,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in Globus Medical by 1.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock worth $100,000 after purchasing an additional 35 shares during the period. Advisor Group Inc. raised its holdings in Globus Medical by 2.0% in the second quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock worth $114,000 after purchasing an additional 68 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Globus Medical in the third quarter worth $177,000. Macquarie Group Ltd. acquired a new stake in Globus Medical in the third quarter worth $187,000. Finally, Citigroup Inc. raised its holdings in Globus Medical by 2.8% in the second quarter. Citigroup Inc. now owns 5,950 shares of the medical device company’s stock worth $197,000 after purchasing an additional 161 shares during the period. 65.72% of the stock is currently owned by institutional investors and hedge funds.
Globus Medical Inc (NYSE:GMED) traded up $1.06 during mid-day trading on Monday, reaching $48.22. 622,100 shares of the company were exchanged, compared to its average volume of 678,933. The firm has a market cap of $4,647.25, a PE ratio of 43.84, a price-to-earnings-growth ratio of 2.82 and a beta of 0.48. Globus Medical Inc has a twelve month low of $26.95 and a twelve month high of $48.40.
In other news, President Anthony L. Williams sold 15,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $38.30, for a total value of $574,500.00. Following the sale, the president now directly owns 15,000 shares of the company’s stock, valued at approximately $574,500. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Steven Payne sold 3,076 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $39.30, for a total transaction of $120,886.80. Following the completion of the sale, the chief accounting officer now directly owns 23,847 shares in the company, valued at $937,187.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,459 shares of company stock valued at $2,947,260. 28.21% of the stock is owned by corporate insiders.
A number of brokerages have recently commented on GMED. Wells Fargo & Co raised shares of Globus Medical from a “market perform” rating to an “outperform” rating and set a $46.00 price objective for the company in a research report on Monday, December 4th. Zacks Investment Research raised shares of Globus Medical from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Barclays reaffirmed a “sell” rating and set a $36.00 target price on shares of Globus Medical in a report on Wednesday, January 10th. BTIG Research set a $42.00 target price on shares of Globus Medical and gave the stock a “buy” rating in a report on Monday, November 20th. Finally, Gabelli reaffirmed a “buy” rating on shares of Globus Medical in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $40.57.
Globus Medical Company Profile
Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.
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