Empowered Funds LLC Takes $6.40 Million Position in Globus Medical, Inc. (NYSE:GMED)

Empowered Funds LLC bought a new position in shares of Globus Medical, Inc. (NYSE:GMEDFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 77,432 shares of the medical device company’s stock, valued at approximately $6,404,000.

Other large investors have also made changes to their positions in the company. Coldstream Capital Management Inc. raised its position in shares of Globus Medical by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock valued at $447,000 after acquiring an additional 131 shares during the last quarter. Stephens Inc. AR increased its holdings in Globus Medical by 3.4% in the third quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock valued at $303,000 after purchasing an additional 138 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Globus Medical by 2.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock valued at $403,000 after purchasing an additional 140 shares during the last quarter. Berry Wealth Group LP lifted its stake in Globus Medical by 5.1% in the fourth quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock valued at $282,000 after buying an additional 164 shares during the period. Finally, Mather Group LLC. boosted its holdings in Globus Medical by 16.3% during the fourth quarter. Mather Group LLC. now owns 1,356 shares of the medical device company’s stock worth $112,000 after buying an additional 190 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Buying and Selling at Globus Medical

In related news, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Keith W. Pfeil sold 14,167 shares of the company’s 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 disclosure for this sale can be found here. Company insiders own 18.54% of the company’s stock.

Wall Street Analysts Forecast Growth

GMED has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Thursday, February 6th. Stifel Nicolaus increased their target price on shares of Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. StockNews.com cut shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Piper Sandler upped their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company lifted their target price on Globus Medical from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Globus Medical has a consensus rating of “Moderate Buy” and an average price target of $96.91.

Read Our Latest Stock Report on GMED

Globus Medical Price Performance

Shares of Globus Medical stock opened at $87.41 on Tuesday. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 130.46, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The stock’s 50-day moving average is $86.56 and its 200-day moving average is $78.20.

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. 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.

Further Reading

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

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