bLong Financial LLC Invests $397,000 in Globus Medical, Inc. (NYSE:GMED)

bLong Financial LLC bought a new position in shares of Globus Medical, Inc. (NYSE:GMED) in the fourth quarter, Holdings Channel reports. The fund bought 4,800 shares of the medical device company’s stock, valued at approximately $397,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ArrowMark Colorado Holdings LLC acquired a new position in Globus Medical in the third quarter valued at about $43,947,000. Lord Abbett & CO. LLC acquired a new position in Globus Medical in the third quarter valued at about $37,948,000. Parsifal Capital Management LP raised its stake in Globus Medical by 50.5% in the third quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock valued at $96,619,000 after purchasing an additional 453,053 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Globus Medical in the third quarter valued at about $26,406,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Globus Medical by 29.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock valued at $88,610,000 after purchasing an additional 285,172 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Transactions at Globus Medical

In related news, SVP Kelly Huller sold 2,500 shares of the company’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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were 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 Analyst Weigh In

Several brokerages have commented on GMED. Royal Bank of Canada boosted their target price on Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their target price on Globus Medical from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Stifel Nicolaus boosted their target price on Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Roth Mkm boosted their target price on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, Piper Sandler boosted their target price on Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.91.

Globus Medical Trading Down 0.2 %

NYSE:GMED opened at $83.99 on Friday. The stock has a market cap of $11.44 billion, a P/E ratio of 125.36, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The stock’s 50-day moving average is $86.65 and its 200-day moving average is $78.56. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93.

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.