Empowered Funds LLC Buys Shares of 77,432 Globus Medical, Inc. (NYSE:GMED)

Empowered Funds 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 disclosure with the Securities and Exchange Commission. The firm bought 77,432 shares of the medical device company's stock, valued at approximately $6,404,000. Empowered Funds LLC owned about 0.06% of Globus Medical as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GMED. Choreo LLC grew its holdings in shares of Globus Medical by 8.4% during the 4th quarter. Choreo LLC now owns 9,284 shares of the medical device company's stock worth $768,000 after purchasing an additional 716 shares in the last quarter. Retirement Systems of Alabama grew its holdings in shares of Globus Medical by 107.5% during the 4th quarter. Retirement Systems of Alabama now owns 284,736 shares of the medical device company's stock worth $23,551,000 after purchasing an additional 147,496 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Globus Medical by 16.3% during the 4th quarter. Mather Group LLC. now owns 1,356 shares of the medical device company's stock worth $112,000 after purchasing an additional 190 shares in the last quarter. Berry Wealth Group LP grew its holdings in shares of Globus Medical by 5.1% during the 4th quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company's stock worth $282,000 after purchasing an additional 164 shares in the last quarter. Finally, Precision Wealth Strategies LLC acquired a new stake in shares of Globus Medical during the 4th quarter worth approximately $479,000. Institutional investors and hedge funds own 95.16% of the company's stock.

Globus Medical Stock Down 0.2 %

GMED traded down $0.14 during trading on Friday, hitting $83.99. The company's stock had a trading volume of 671,673 shares, compared to its average volume of 1,273,549. The firm's 50 day moving average price is $86.63 and its two-hundred day moving average price is $78.48. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93. The stock has a market capitalization of $11.44 billion, a price-to-earnings ratio of 125.36, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19.

Insider Buying and Selling at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the business's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kelly Huller sold 2,500 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The disclosure for this sale can be found here. Corporate insiders own 18.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GMED. Piper Sandler lifted their price objective on Globus Medical from $80.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. StockNews.com upgraded Globus Medical from a "hold" rating to a "buy" rating in a research report on Friday. Canaccord Genuity Group raised their target price on Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Morgan Stanley upgraded Globus Medical from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Finally, Needham & Company LLC restated a "hold" rating on shares of Globus Medical in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $96.91.

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.