New York State Teachers Retirement System Has $7.21 Million Stake in Globus Medical, Inc. (NYSE:GMED)

New York State Teachers Retirement System raised its stake in Globus Medical, Inc. (NYSE:GMED - Free Report) by 12.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,116 shares of the medical device company's stock after purchasing an additional 9,539 shares during the period. New York State Teachers Retirement System owned 0.06% of Globus Medical worth $7,205,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GMED. Coldstream Capital Management Inc. boosted its holdings in shares of Globus Medical by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company's stock valued at $447,000 after acquiring an additional 131 shares during the period. Stephens Inc. AR boosted its holdings in shares of Globus Medical by 3.4% in the third quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company's stock valued at $303,000 after acquiring an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Globus Medical by 2.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company's stock valued at $403,000 after acquiring an additional 140 shares during the period. Berry Wealth Group LP boosted its holdings in shares of Globus Medical by 5.1% in the fourth quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company's stock valued at $282,000 after acquiring an additional 164 shares during the period. Finally, Mather Group LLC. boosted its holdings in shares of Globus Medical by 16.3% in the fourth quarter. Mather Group LLC. now owns 1,356 shares of the medical device company's stock valued at $112,000 after acquiring an additional 190 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Globus Medical Price Performance

Shares of Globus Medical stock traded down $4.17 during trading on Friday, hitting $79.96. The stock had a trading volume of 2,043,956 shares, compared to its average volume of 1,265,287. The firm has a market cap of $10.89 billion, a P/E ratio of 119.37, a PEG ratio of 1.60 and a beta of 1.19. The business has a fifty day moving average of $86.76 and a two-hundred day moving average of $78.94. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93.

Globus Medical (NYSE:GMED - Get Free Report) last announced its earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.74 by $0.10. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The business had revenue of $657.29 million during the quarter, compared to the consensus estimate of $646.19 million. As a group, research analysts forecast that Globus Medical, Inc. will post 2.98 earnings per share for the current year.

Insider Activity

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the firm's 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kelly Huller sold 2,500 shares of the firm's stock in a transaction that occurred 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. 18.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Roth Mkm increased their price target on Globus Medical from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, December 17th. Piper Sandler lifted their price objective on Globus Medical from $80.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Truist Financial lifted their price objective on Globus Medical from $85.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, December 18th. Canaccord Genuity Group boosted their price target on Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Finally, Stifel Nicolaus boosted their price target on Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $96.91.

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.