bLong Financial LLC Takes Position in Globus Medical, Inc. (NYSE:GMED)

bLong Financial LLC bought a new position in Globus Medical, Inc. (NYSE:GMED - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,800 shares of the medical device company's stock, valued at approximately $397,000.

Several other large investors also recently added to or reduced their stakes in GMED. V Square Quantitative Management LLC bought a new position in Globus Medical during the 3rd quarter valued at about $27,000. Quarry LP lifted its stake in Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company's stock valued at $35,000 after purchasing an additional 433 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of 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 during the period. UMB Bank n.a. raised its holdings in Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock valued at $45,000 after acquiring an additional 206 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Globus Medical by 41.7% in the fourth quarter. GAMMA Investing LLC now owns 1,258 shares of the medical device company's stock valued at $104,000 after acquiring an additional 370 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Stock Down 0.8 %

Shares of GMED stock traded down $0.66 during trading hours on Wednesday, hitting $84.17. 894,336 shares of the company's stock were exchanged, compared to its average volume of 1,248,741. The firm has a market cap of $11.46 billion, a P/E ratio of 125.62, a P/E/G ratio of 1.60 and a beta of 1.19. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The firm has a 50 day moving average of $86.70 and a two-hundred day moving average of $78.87.

Insider Activity

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the business's stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kelly Huller sold 2,500 shares of the firm's 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. Company insiders own 18.54% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on GMED shares. Roth Mkm boosted their price target on Globus Medical from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, December 17th. Truist Financial raised 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. Stifel Nicolaus raised their price objective on Globus Medical from $80.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Morgan Stanley upgraded shares of Globus Medical from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. Finally, BTIG Research increased their target price on Globus Medical from $87.00 to $91.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $96.91.

Globus Medical 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.