Angeles Wealth Management LLC Makes New $247,000 Investment in Globus Medical, Inc. (NYSE:GMED)

Angeles Wealth Management LLC bought a new position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,991 shares of the medical device company's stock, valued at approximately $247,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GMED. V Square Quantitative Management LLC acquired a new stake in Globus Medical during the third quarter worth about $27,000. Quarry LP boosted its position in 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 position in Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company's stock worth $39,000 after purchasing an additional 385 shares in the last quarter. UMB Bank n.a. boosted its position in Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock worth $45,000 after purchasing an additional 206 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Globus Medical by 40.7% during the third quarter. GAMMA Investing LLC now owns 888 shares of the medical device company's stock worth $64,000 after purchasing an additional 257 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Stock Down 0.2 %

Shares of NYSE GMED traded down $0.14 during midday trading on Friday, hitting $83.99. The stock had a trading volume of 671,673 shares, compared to its average volume of 1,273,549. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93. The company has a market capitalization of $11.44 billion, a PE ratio of 125.36, a P/E/G ratio of 1.68 and a beta of 1.19. The stock has a 50 day simple moving average of $86.63 and a 200-day simple moving average of $78.48.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BTIG Research increased their price target on Globus Medical from $87.00 to $91.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Stifel Nicolaus increased their price target on Globus Medical from $80.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Morgan Stanley upgraded Globus Medical from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Roth Mkm increased their price target on Globus Medical from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, December 17th. Finally, Canaccord Genuity Group raised their target price on Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Globus Medical has an average rating of "Moderate Buy" and a consensus target price of $96.91.

Insider Buying and Selling

In related news, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction that occurred 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 filing with the SEC, which is accessible through this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction that occurred on 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. 18.54% of the stock is currently owned by company insiders.

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.