Teacher Retirement System of Texas increased its holdings in Globus Medical, Inc. (NYSE:GMED – Get Rating) by 7.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,353 shares of the medical device company's stock after acquiring an additional 1,078 shares during the quarter. Teacher Retirement System of Texas' holdings in Globus Medical were worth $1,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of GMED. Tyler Stone Wealth Management bought a new stake in Globus Medical during the 4th quarter valued at about $25,000. Signaturefd LLC increased its stake in Globus Medical by 93.8% during the 1st quarter. Signaturefd LLC now owns 345 shares of the medical device company's stock valued at $25,000 after purchasing an additional 167 shares in the last quarter. Covestor Ltd bought a new stake in Globus Medical during the 4th quarter valued at about $30,000. Spire Wealth Management increased its stake in Globus Medical by 183.5% during the 1st quarter. Spire Wealth Management now owns 499 shares of the medical device company's stock valued at $37,000 after purchasing an additional 323 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Globus Medical by 60.2% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 535 shares of the medical device company's stock valued at $39,000 after purchasing an additional 201 shares in the last quarter. 67.19% of the stock is currently owned by institutional investors.
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Globus Medical Price Performance
NYSE:GMED opened at $67.06 on Wednesday. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 45.33, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. Globus Medical, Inc. has a one year low of $52.60 and a one year high of $84.23. The business has a fifty day moving average price of $58.60 and a 200-day moving average price of $65.38.
Analyst Ratings Changes
GMED has been the subject of a number of analyst reports. BTIG Research reduced their price objective on shares of Globus Medical to $71.00 in a research note on Tuesday, August 9th. Canaccord Genuity Group lowered their price target on Globus Medical from $80.00 to $75.00 in a report on Wednesday, May 11th. Morgan Stanley lowered their price target on Globus Medical from $68.00 to $62.00 and set an "equal weight" rating on the stock in a report on Friday, July 15th. Wells Fargo & Company lowered their price target on Globus Medical from $80.00 to $70.00 in a report on Wednesday, May 11th. Finally, Truist Financial lowered their price target on Globus Medical from $76.00 to $71.00 and set a "buy" rating on the stock in a report on Wednesday, July 20th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $77.36.
About Globus Medical
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Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. It offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative, deformity, tumors, and trauma conditions; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional pain management solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.
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