Lightrock Netherlands B.V. Acquires New Holdings in Globus Medical, Inc. (NYSE:GMED)

Lightrock Netherlands B.V. bought a new stake in Globus Medical, Inc. (NYSE:GMED - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 101,844 shares of the medical device company's stock, valued at approximately $8,465,000. Globus Medical makes up about 3.0% of Lightrock Netherlands B.V.'s investment portfolio, making the stock its 15th largest position. Lightrock Netherlands B.V. owned about 0.07% of Globus Medical at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Globus Medical during the 3rd quarter valued at about $27,000. Quarry LP increased its stake in shares of Globus Medical by 698.4% during the 3rd quarter. Quarry LP now owns 495 shares of the medical device company's stock valued at $35,000 after acquiring 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 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company's stock valued at $39,000 after acquiring an additional 385 shares during the last quarter. UMB Bank n.a. increased its stake in shares of 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 acquiring an additional 206 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Globus Medical by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 888 shares of the medical device company's stock valued at $64,000 after acquiring an additional 257 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Kelly Huller sold 2,500 shares of the business's stock in a transaction on Monday, December 2nd. The shares were 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 Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,250,804.43. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GMED shares. Bank of America raised shares of Globus Medical from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Piper Sandler upped their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. Needham & Company LLC reissued a "hold" rating on shares of Globus Medical in a research report on Thursday, February 6th. Stifel Nicolaus increased their target price on shares of Globus Medical from $80.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Finally, Roth Mkm increased their target price on shares of Globus Medical from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $96.91.

Globus Medical Stock Down 0.2 %

Shares of GMED traded down $0.14 during mid-day trading on Friday, reaching $83.99. 671,673 shares of the stock traded hands, compared to its average volume of 1,273,549. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 125.36, a P/E/G ratio of 1.68 and a beta of 1.19. The stock has a fifty day simple moving average of $86.63 and a 200 day simple moving average of $78.48. Globus Medical, Inc. has a 12-month low of $49.33 and a 12-month high of $94.93.

About Globus Medical

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.