24,176 Shares in Globus Medical, Inc. (NYSE:GMED) Purchased by AlphaCentric Advisors LLC

AlphaCentric Advisors LLC bought a new stake in Globus Medical, Inc. (NYSE:GMED - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 24,176 shares of the medical device company's stock, valued at approximately $2,000,000. Globus Medical accounts for about 2.0% of AlphaCentric Advisors LLC's portfolio, making the stock its 10th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Globus Medical in the 3rd quarter worth approximately $27,000. Quarry LP lifted its position in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company's stock worth $35,000 after purchasing an additional 433 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Globus Medical by 230.5% in the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company's stock valued at $39,000 after purchasing an additional 385 shares during the period. UMB Bank n.a. grew its holdings in Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock valued at $45,000 after purchasing an additional 206 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Globus Medical by 41.7% during the 4th quarter. GAMMA Investing LLC now owns 1,258 shares of the medical device company's stock worth $104,000 after buying an additional 370 shares during the period. Institutional investors and hedge funds own 95.16% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Globus Medical from $85.00 to $90.00 and gave the company a "hold" rating in a research report on Wednesday, December 18th. Needham & Company LLC restated a "hold" rating on shares of Globus Medical in a report on Thursday, February 6th. StockNews.com raised shares of Globus Medical from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Royal Bank of Canada upped their price target on shares of Globus Medical from $80.00 to $92.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. Finally, Stifel Nicolaus raised their price objective 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. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Globus Medical presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.91.

Globus Medical Stock Performance

Shares of Globus Medical stock traded down $0.57 on Wednesday, reaching $84.27. 509,225 shares of the company were exchanged, compared to its average volume of 1,236,254. The firm has a market cap of $11.47 billion, a price-to-earnings ratio of 125.84, a P/E/G ratio of 1.60 and a beta of 1.19. The company's 50-day moving average is $86.70 and its two-hundred day moving average is $78.87. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93.

Insider Transactions at Globus Medical

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