Louisiana State Employees Retirement System Has $2.61 Million Position in Globus Medical, Inc. (NYSE:GMED)

Louisiana State Employees Retirement System raised its position in Globus Medical, Inc. (NYSE:GMED) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 31,600 shares of the medical device company’s stock after purchasing an additional 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Globus Medical were worth $2,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake 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 worth $255,450,000 after buying an additional 81,371 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Globus Medical by 1.2% during 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 during the last quarter. Geneva Capital Management LLC lifted its stake in shares of Globus Medical by 1.1% during the 3rd quarter. Geneva Capital Management LLC now owns 1,598,130 shares of the medical device company’s stock worth $114,330,000 after buying an additional 18,117 shares during the last quarter. Parsifal Capital Management LP lifted its stake in shares of Globus Medical by 50.5% during the 3rd quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock worth $96,619,000 after buying an additional 453,053 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Globus Medical by 29.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock worth $88,610,000 after buying an additional 285,172 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GMED. Canaccord Genuity Group raised their target price on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. StockNews.com upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada lifted their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. Finally, Roth Mkm lifted their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $96.91.

Globus Medical Stock Up 0.0 %

GMED stock opened at $84.04 on Friday. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93. The firm has a market cap of $11.44 billion, a P/E ratio of 125.44, a P/E/G ratio of 1.68 and a beta of 1.19. The company’s 50-day moving average price is $86.61 and its two-hundred day moving average price is $78.44.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total transaction of $217,500.00. The disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

Globus Medical Company 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.